Dividend Declaration

RNS Number : 2717W

City Natural Res High Yield Tst PLC

27 July 2009

 



CITY NATURAL RESOURCES HIGH YIELD TRUST PLC

('City Natural Resources' or 'the Company')

INCREASED DIVIDEND PAYMENT 

• Fourth interim dividend of 1.42p (2008: 1.00p) declared

• Total dividend of 3.07p (2008: 2.65p) for the year

City Natural Resources today announces a fourth interim dividend of 1.42p payable on 28 August 2009 to shareholders on the register as at 7 August 2009 with an ex-dividend date of 5 August 2009. This latest dividend payment is in line with the Company's progressive dividend policy which has paid an increased dividend each year since inception as shown below:

	Financial year	Total dividend			% increase
	2004/05	2.00p			-
	2005/06	2.15p			7.5%
	2006/07	2.35p			9.3%
	2007/08	2.65p			12.8%
	2008/09	3.07p			15.8%

Geoff Burns, Chairman of City Natural Resources, commented: 'With many corporates now either unable or unwilling to pay dividends, we are pleased to reward our loyal shareholders with this 15.8% dividend increase. Our managers continue to identify investments which produce solid income from profitable operations and we look forward to reporting to shareholders again in the autumn.'  

Richard Lockwood, Manager of City Natural Resources, added: 'We invest in resources and high yield investments and believe strongly in the importance of generating both capital and dividend growth for shareholders. This policy continues. City Natural Resources invests across the resources universe in precious metals, base metals and energy as well as soft commodity securities.'

Contacts:

New City Investment Managers Ltd 

Richard Lockwood                          0207 201 5365

F&C Asset Management plc          0131 718 1095

Martin Cassels    

Threadneedle Communications

Beth Harris/Laurence Read            0207 653 9850 

Notes to Editors:

City Natural Resources is managed by Richard Lockwood and Merfyn Roberts of New City Investment Managers Limited and has a market capitalisation of £85m. 

 

END

 

 

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