Dividend Declaration

RNS Number : 6794O

Witan Investment Trust PLC

10 February 2016

 

10 February 2016

WITAN INVESTMENT TRUST PLC

Payment of a Fourth Interim Dividend

Witan Investment Trust plc hereby announces that a fourth interim dividend of 5.45p per ordinary share of 25p, in respect of the year ended 31 December 2015, will be paid on Friday 1 April 2016 to shareholders registered at the close of business on Friday 4 March 2016 (the ex-dividend date is Thursday 3 March).  Taken together with the three interim dividends of 3.85p each paid in June, September and December 2015, this represents a total dividend payment of 17.0p in respect of 2015 (2014: 15.4p).  This represents an increase of 10.4%, which is more than 10% ahead of the rise in the consumer price index in the year to December 2015.  The dividend is fully covered by the Company's 2015 revenue earnings per share (subject to finalisation of the Annual Results for 2015).

The Board's policy is that the first three interim dividends of the current financial year (in June, September and December 2016) 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 2016 to be 4.25p (2015: 3.85p).

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 2015 the 41st 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]

Hannah Philp, Director of Marketing

Witan Investment Trust plc

Tel: [phone]

[e-mail]

 

END

 

 

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