BlackRock Latin American update on tender offer

BlackRock Latin American Investment Trust has confirmed that the biennial tender offer would not be implemented as the company had not underperformed its benchmark on a US dollar total return basis by more than 1% per annum over the previous two financial years.

The company said its US dollar cum-income NAV increased from 459.26 cents per share at 31 Dec 2015 to 710.29 cents per share at 31 Dec 2017.

It said that after the reinvestment of dividends paid out in the period of 27 cents per share, (assuming that any dividends paid to shareholders were reinvested on the ex-dividend date, equating to a dividend reinvestment factor uplift of 1.04532), this represented a NAV total return of 61.7%, compared to a total return of 63.2% on the benchmark index

At 9:43am: (LON:BRLA) BlackRock Latin Am share price was +2p at 461.5p