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Invesco Trust Reports H1 Earnings Results with Net Investment Income of $0.41 per Share
ByAinvest
Thursday, Jan 16, 2025 7:03 pm ET1min read
Invesco Trust for Investment Grade Municipals reported earnings for the half-year ended August 31, 2024. The summary of principal points includes the company's financial performance, dividend payments, and upcoming events.
Invesco Trust for Investment Grade Municipals (INV) reported impressive earnings for the first half of 2024, with net income reaching USD 15.17 million [1]. This figure marks a significant increase compared to the same period in the previous year.The trust, which aims to provide current income exempt from federal income tax [2], has experienced consistent growth over the past few years. According to its financial statements, the average annual returns for the 1-year, 3-year, 5-year, and 10-year periods were 7.1%, 5.3%, 4.2%, and 3.8%, respectively [2].
Invesco's strong financial performance in H1 2024 can be attributed to its well-diversified portfolio of investment-grade municipal bonds. The trust's focus on high-quality investments has resulted in a favorable credit quality breakdown, with ratings from S&P, Moody's, and Fitch ranging from A to AAA [2].
In addition to its robust financial performance, INV also announced upcoming events, including the declaration of its next quarterly distribution on September 30, 2024 [1]. Investors should keep an eye on these events, as they may provide further insights into the trust's future performance and prospects.
In conclusion, Invesco Trust for Investment Grade Municipals delivered a strong first-half performance in 2024, with net income reaching USD 15.17 million and a well-diversified portfolio of high-quality municipal bonds. The trust's consistent growth and focus on current income exempt from federal income tax make it an attractive investment option for income-focused investors.
References:
[1] MarketScreener. Invesco Trust for Investment Grade Municipals Reports Earnings Results for the Half-Year Ended August 31, 2024. August 31, 2024. https://www.marketscreener.com/quote/stock/INVESCO-TRUST-FOR-INVESTM-14799/news/Invesco-Trust-for-Investment-Grade-Municipals-Reports-Earnings-Results-for-the-Half-Year-Ended-Augus-48240256/
[2] Invesco. Invesco Trust for Investment Grade Municipals. August 31, 2024. https://www.invesco.com/us/financial-products/closed-end/product-detail?audienceType=Investor&fundId=30626
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