Dividend Declaration

RNS Number : 2211A

Witan Investment Trust PLC

17 February 2014

 



17 February 2014

WITAN INVESTMENT TRUST PLC

Payment of a Fourth Interim Dividend

Witan Investment Trust plc hereby announces that a fourth interim dividend of 4.5p per ordinary share of 25p will be paid on Friday 28 March 2014, in respect of the year ended 31 December 2013, to shareholders registered at the close of business on Friday 28 February 2014 (the ex-dividend date is Wednesday 26 February).  Taken together with the three interim dividends of 3.30p each paid in June, September and December 2013, this represents a total dividend payment of 14.4p in respect of 2013 (2012: 13.2p).  This represents an increase of 9.1%, more than 7% ahead of the 2.0% rise in the consumer price index in the year to December 2013.  The dividend is fully covered by the Company's 2013 revenue earnings per share (subject to finalisation of the Annual Results for 2013).

The Board's policy is that the first three interim dividends of the current financial year (in June, September and December 2014) will, in the absence of unforeseen circumstances, be paid at the rate of one quarter of the total payment in respect of the previous year.  Accordingly, in the absence of unforeseen circumstances, the Company expects the first interim dividend in respect of 2014 to be 3.60p (2013: 3.30p).

The Board has declared a fourth interim dividend instead of a final dividend, in order to ensure that, as in previous years, the distribution is made before 5 April.

The Company's policy is that it intends (subject to market conditions) to grow the dividend in real terms, ahead of inflation.  The Company has increased its dividend each year since 1974, making 2013 the 39th consecutive year of increases in the dividend.

For further information please contact:

Andrew Bell, Chief Executive Officer

Witan Investment Trust plc

Tel: [phone]

[e-mail]

James Frost, Marketing Director                                    Jain Castiau, Director

Witan Investment Trust plc                                            Cauldron Consulting

Tel: [phone]                                                        Tel: [phone]

[e-mail]                                               [e-mail]

 

END

 

 

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