Dividend Declaration

RNS Number : 6885C

Witan Investment Trust PLC

12 February 2020

 

12 February 2020

WITAN INVESTMENT TRUST PLC

Payment of a Fourth Interim Dividend

Witan Investment Trust plc hereby announces that a fourth interim dividend of 1.825p per ordinary share of 5p, in respect of the year ended 31 December 2019, will be paid on Friday 3 April 2020 to shareholders registered at the close of business on Friday 28 February 2020 (the ex-dividend date is Thursday 27 February).  Taken together with the three interim dividends of 1.175p each paid in June, September and December 2019, this represents a total dividend payment of 5.35p in respect of 2019 (2018: 4.70p, adjusting for the five for one share split in May 2019).  The increase of 13.8% is well ahead of the 1.3% rise in the consumer price index in the year to December 2019.  The dividend is fully covered by the Company's 2019 revenue earnings per share (subject to finalisation of the Annual Results for 2019).

In accordance with the Company's policy, in the absence of unforeseen circumstances the first three interim dividends of the current financial year (in June, September and December 2020) will be paid at the rate of 1.34p (2018: 1.175p), being approximately one quarter of the 5.35p total payment in respect of 2019.

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 2019 the 45th 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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