at 30 April 2021
Market Value % of Bid Market sector GBP'000 portfolio Financial Services 10,776 17.1 Industrial Goods & Services 10,460 16.6 Construction & Materials 6,050 9.7 Consumer Products and Services 5,582 9.0 Retail 4,442 7.1 Insurance 4,326 6.8 Real Estate 4,182 6.6 Travel & Leisure 3,526 5.6 Media 3,509 5.5 Food, Beverage & Tobacco 2,873 4.7 Telecommunications 2,184 3.5 Energy 1,827 2.9 Basic Resources 1,232 2.0 Banks 794 1.3 Utilities 597 1.0 Personal Care, Drugs & Grocery Stores 408 0.6 62,768 100.0 Breakdown of Portfolio by Market Capitalisation
at 30 April 2021
Number of Companies
>GBP500m - 20
GBP250-500m - 11
GBP100-250m - 17
GBP75-100m - 6
GBP50-75m - 9
GBP25-50m - 5
% of Portfolio as at 30 April 2021
>GBP500m - 27%
GBP250-500m - 15%
GBP100-250m - 23%
GBP75-100m - 8%
GBP50-75m - 12%
GBP25-50m - 7%
Source: Maitland Administration Services Limited Portfolio Statement
at 30 April 2021
at 30 April 2021 (continued)
Total Portfolio 62,768 100.0
Investment Objective and Policy
The investment objective of the Company is to provide Ordinary shareholders with a high income and opportunity for capital growth, having provided a capital return suf?cient to repay the full ?nal capital entitlement of the Zero Dividend Preference shares issued by the wholly owned subsidiary company SDVP.
The Company's investment policy is that: ? The Company will invest in equities in order to achieve its investment objectives, which are to provide both income
and capital growth, predominantly through investment in mid and smaller capitalised UK companies admitted to the
Of?cial List of the UK Listing Authority and traded on the London Stock Exchange Main Market or traded on AIM. ? The Company will not invest in preference shares, loan stock or notes, convertible securities or ?xed interest
securities or any similar securities convertible into shares; nor will it invest in the securities of other
investment trusts or in unquoted companies. Performance Analysis using Key Performance Indicators
At each quarterly Board meeting, the Directors consider a number of key performance indicators ('KPIs') to assess the Group's success in achieving its objectives, including the net asset value ('NAV'), the dividend per share and the total ongoing charges. ? The Group's Consolidated Statement of Comprehensive Income is set out on page 47. ? A total dividend for the year to 30 April 2021 of 10.272p (2020: 9.60p) per Ordinary share has been declared to
shareholders by way of three payments totalling 7.50p per Ordinary share plus a planned fourth interim dividend
payment of 2.50p per Ordinary share and a special dividend of 0.272p per Ordinary share. ? The NAV per Ordinary share at 30 April 2021 was 227.07p (2020: 124.86p). ? The ongoing charges (including investment management fees and other expenses but excluding exceptional items) for
the year ended 30 April 2021 were 2.33% (2020: 2.12%). The increase in the annualised ongoing charges during the
year is primarily due to the reduction in net asset value for the ?rst half of the year due to the uncertainties
around Covid-19.
The Directors, in conjunction with the Investment Manager, also took time during the 2020-21 ?nancial year to speci?cally benchmark the Group's performance against different comparator peer groups and performance metrics to inform decision making.
Further detailed information is available in the Company's Key Information Document which was updated during the year and can be found on the Company's website: https://www.chelvertonam.com/fund/ chelverton-uk-dividend-trust-plc/ Principal Risks
(MORE TO FOLLOW) Dow Jones Newswires
June 24, 2021 02:04 ET (06:04 GMT)
Market value % of
Security Sector GBP'000 portfolio
Belvoir Lettings Real Estate 2,150 3.4
Diversi?ed Gas & Oil Energy 1,827 2.9
Alumasc Group Construction & Materials 1,712 2.7
UP Global Sourcing Holdings Consumer Products and Services 1,610 2.6
Jarvis Securities Financial Services 1,500 2.4
Finncap Group Financial Services 1,320 2.1
Randall & Quilter Insurance 1,320 2.1
Flowtech Fluid Power Industrial Goods & Services 1,265 2.0
Devro Food, Beverage & Tobacco 1,230 2.0
STV Media 1,220 1.9
MTI Wireless Edge Telecommunications 1,206 1.9
DFS Furniture Retail 1,197 1.9
Redde Northgate Industrial Goods & Services 1,091 1.7
Vistry Group Consumer Products and Services 1,065 1.7
Tyman Construction & Materials 1,056 1.7
Epwin Group Construction & Materials 1,045 1.7
Premier Miton Group Financial Services 1,032 1.6
Coral Products Industrial Goods & Services 1,015 1.6
Brewin Dolphin Holdings Financial Services 1,014 1.6
Clarke (T.) Construction & Materials 1,000 1.6
Brown (N) Group Retail 983 1.6
Amino Technologies Telecommunications 978 1.6
Sever?eld Construction & Materials 975 1.6
Marston's Travel & Leisure 970 1.5
Chesnara Insurance 964 1.5
Polar Capital Holdings Financial Services 958 1.5
Numis Corporation Financial Services 950 1.5
MP Evans Food, Beverage & Tobacco 918 1.5
Castings Industrial Goods & Services 915 1.5
Bloomsbury Publishing Media 903 1.4
Vertu Motors Retail 902 1.4
TheWorks.co.uk Retail 876 1.4
Regional REIT Real Estate 840 1.3
Crest Nicholson Consumer Products and Services 818 1.3
Ramsdens Holdings Financial Services 810 1.3
Headlam Group Consumer Products and Services 796 1.3
Close Brothers Group Banks 794 1.3
Essentra Industrial Goods & Services 794 1.3
Appreciate Group Financial Services 760 1.2
Smiths News Industrial Goods & Services 760 1.2
Braemar Shipping Services Industrial Goods & Services 756 1.2
Bakkavor Food, Beverage & Tobacco 725 1.2
Restaurant Group Travel & Leisure 720 1.1
Centaur Media Media 714 1.1
Personal Group Holdings Insurance 708 1.1
Photo-me International Consumer Products and Services 693 1.1
Anglo Paci?c Basic Resources 692 1.1 Portfolio Statement
Market value % of
Security Sector GBP'000 portfolio
Curtis Banks Group Financial Services 690 1.1
Hansard Global Insurance 684 1.1
Palace Capital Real Estate 674 1.1
Wilmington Group Media 672 1.1
Saga Travel & Leisure 665 1.1
Sabre Insurance Insurance 650 1.0
Duke Royalty Financial Services 630 1.0
iEnergizer Industrial Goods & Services 612 1.0
Go-Ahead Group Travel & Leisure 611 1.0
Portmeirion Group Consumer Products and Services 600 1.0
Contour Global Utilities 597 1.0
Gattaca Industrial Goods & Services 592 0.9
Babcock International Industrial Goods & Services 576 0.9
Revolution Bars Group Travel & Leisure 560 0.9
Chamberlin Basic Resources 540 0.9
Town Centre Securities Real Estate 518 0.8
Hargreaves Services Industrial Goods & Services 505 0.8
Strix Group Industrial Goods & Services 493 0.8
Shoe Zone Retail 484 0.8
Orchard Funding Group Financial Services 480 0.8
RTC Group Industrial Goods & Services 441 0.7
RPS Group Industrial Goods & Services 440 0.7
McColl's Retail Group Personal Care, Drugs & Grocery Stores 408 0.6
Vector Capital Financial Services 352 0.6
GLI Finance Financial Services 280 0.4
Kier Group Construction & Materials 262 0.4
DX Group Industrial Goods & Services 205 0.3