Dividend Declaration

RNS Number : 5193T

City of London Investment Trust PLC

20 July 2020

 

HENDERSON INVESTMENT FUNDS LIMITED

THE CITY OF LONDON INVESTMENT TRUST PLC

LEGAL ENTITY IDENTIFIER: 213800F3NOTF47H6AO55

20 July 2020

THE CITY OF LONDON INVESTMENT TRUST PLC

The Board of The City of London Investment Trust plc announces that:

(a)  Dividend on the Ordinary Shares

A fourth interim dividend of 4.75p per ordinary share of 25p, in respect of the year ended 30 June 2020 will be paid on 28 August 2020 to holders registered at the close of business on 31 July 2020. The Company's shares will go ex-dividend on 30 July 2020.

The total dividend for the year to 30 June 2020 is 19.00p per share, an increase of 2.2% over the previous year.

(b)  Dividends on the Preference and Preferred Ordinary Stocks

The dividends for the half year will be paid on 28 August 2020 at

· 3.0% on £301,982 Cumulative First Preference Stock;

· 2.1% on £507,202 Non-Cumulative Second Preference Stock;

· 10.0% on £589,672 Non-Cumulative Preferred Ordinary Stock;

to holders registered at the close of business on 31July 2020. 

(c)  Future dividends

For the current financial year ending on 30 June 2021, the Board expects to pay ordinary dividends in excess of 19p per share, thereby increasing the dividend for a 55th consecutive year. This is likely to be funded from a combination of income received during the year and revenue reserves.

The Board notes, further, that the Company holds capital reserves arising from gains realised from investments sold, and therefore available for distribution to shareholders, estimated to be in excess of £270 million at 30 June 2020 (unaudited).

For further information please contact:

Job Curtis

Fund Manager

The City of London Investment Trust plc

Telephone: [phone]

James de Sausmarez

Director and Head of Investment Trusts

Janus Henderson Investors

Telephone: [phone]

Laura Thomas

Investment Trust PR Manager

Janus Henderson Investors

Tel: [phone]  

 

END

 

 

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