Octopus Apollo VCT Reports 1.0% Total Return and Declares 1.2p Interim Dividend
Octopus Apollo VCT plc (LSE:OAP3) achieved a modest total return of 1.0% for the six months ended July 31, 2026. The venture capital trust saw its net asset value plus cumulative dividends rise to 142.2p per share, representing a minor increase of 0.5p from January 31, 2026. The board declared an interim dividend of 1.2p per share, which is scheduled to be paid on December 23, 2026, to shareholders on the register as of December 4, 2026.
The trust navigated a challenging market for business-to-business technology and software firms, which was impacted by macroeconomic uncertainty and shifting investor sentiment toward artificial intelligence. Overall portfolio valuations increased by 12.4 million pounds during the period. This net gain was driven by 30.5 million pounds in valuation increases across 26 portfolio companies, which offset 18.1 million pounds in write-downs across 21 other businesses.
Looking forward, the trust is preparing to raise additional capital to fund future investments. Having recently closed a subscription offer that raised 89.6 million pounds, the company plans to launch a new offer targeting 50 million pounds, with an over-allotment option of up to 25 million pounds. The trust is also utilizing expanded investment limits to back larger, more established businesses and support existing portfolio companies through later growth stages.
Key points
- Octopus Apollo VCT achieved a 1.0% total return for the six months ended July 31, 2026, bringing its total value per share to 142.2p.
- The company declared an interim dividend of 1.2p per share, payable on December 23, 2026.
- Overall portfolio valuations rose by 12.4 million pounds, with 26 companies increasing in value and 21 experiencing declines.
- The trust plans to launch a new share subscription offer targeting 50 million pounds, with a 25 million pound over-allotment facility.
- Cash resources of 62.7 million pounds were deployed during the period, leaving a cash balance of 100.6 million pounds.
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How we writeDisclaimerQuestions and answers
When will the Octopus Apollo VCT interim dividend be paid?
The interim dividend of 1.2p per share will be paid on December 23, 2026, to shareholders who are on the register as of December 4, 2026.
What is the target of the new fundraising offer?
The trust plans to launch a new subscription offer targeting 50 million pounds, with an over-allotment option of up to an additional 25 million pounds.
How did the investment portfolio perform during the half-year?
The portfolio saw a net valuation increase of 12.4 million pounds, driven by 30.5 million pounds in gains across 26 companies, which offset 18.1 million pounds in write-downs across 21 companies.