Dividend Declaration

RNS Number : 1850E

Witan Investment Trust PLC

07 February 2018

 

7 February 2018

WITAN INVESTMENT TRUST PLC

Payment of a Fourth Interim Dividend

Witan Investment Trust plc hereby announces that a fourth interim dividend of 6.75p per ordinary share of 25p, in respect of the year ended 31 December 2017, will be paid on Thursday 29 March 2018 to shareholders registered at the close of business on Friday 2 March 2018.  The ex-dividend date is Thursday 1 March.  Taken together with the three interim dividends of 4.75p each paid in June, September and December 2017, this represents a total dividend payment of 21.0p in respect of 2017 (2016: 19.0p).  This represents an increase of 10.5%, more than 7% ahead of the 3% rise in the consumer price index in the year to December 2017.  The dividend is fully covered by the Company's 2017 revenue earnings per share (subject to finalisation of the Annual Results for 2017).

The Board's policy is that the first three interim dividends of the current financial year (in June, September and December 2018) 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 2018 to be 5.25p (2017: 4.75p).

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 2017 the 43rd 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]

Alexis Barling, Director of Marketing

Witan Investment Trust plc

Tel: [phone]

[e-mail]

 

END

 

 

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