Dividend Declaration

RNS Number : 0302N

City Natural Res High Yield Tst PLC

23 July 2014

 



To:                   RNS

From:              City Natural Resources High Yield Trust plc

Date:               23 July 2014

CITY NATURAL RESOURCES HIGH YIELD TRUST PLC

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

DIVIDEND INCREASED FOR NINETH SUCCESSIVE YEAR

·     Fourth interim dividend of 3.02p (2013: 2.92p) declared

·     Total dividend up 1.8% to 5.60p (2013: 5.50p) for the year

·     Total dividend up by 175% in nine years

City Natural Resources High Yield Trust plc announces a fourth interim dividend of 3.02 pence per share payable on 29 August 2014 to shareholders on the register on 1 August 2014, with an ex-dividend date of 30 July 2014.  The latest dividend payment is in line with the Company's progressive dividend policy which has seen an increased dividend paid every 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%

2009/10                       3.71p                           20.8%

2010/11                       4.22p                           13.7%

2011/12                       4.83p                           14.5%

2012/13                       5.50p                           13.9%

2013/14                       5.60p                           1.8%

Will Smith and Ian Francis, Managers of City Natural Resources, said: "The 1.8% increase in dividends paid for 2013/14 recognises the importance to investors of income, particularly during a prolonged environment of low interest rates.  We continue to seek both growth and income opportunities within the chronic turbulence of the resources sector."

For further information please contact:

Will Smith / Ian Francis                                                          

New City Investment Managers

0207 201 5387/5366

Martin Cassels

R&H Fund Services Limited

0131 524 6140

Note to Editors:

Winner of the best commodity fund at the Investors Chronicle Fund Awards 2012.

City Natural Resources High Yield Trust plc is managed by Will Smith and Ian Francis of New City Investment Managers.

The investment objective of the Company is to provide shareholders with capital growth and income predominantly from a portfolio of mining and resource equities and of mining, resource and industrial fixed interest securities.

If you would like to receive the monthly factsheet on City Natural Resources High Yield Trust plc or any of the other New City Investment Managers' funds please email: [e-mail]

Please see the below table for the Company's ordinary share total return and NAV total return performance over a nine year period:

	1 Month %	3 Months %	6 Months %	12 Months %	3 Years %	5 Years %	From 01/08/03 %
Company NAV	4.74	5.11	9.40	2.11	-51.25	7.37	283.66
Share Price	-4.66	7.07	11.48	2.22	-52.86	12.92	219.67
Benchmark	1.74	1.54	2.86	6.10	-30.23	24.11	200.77

Source: R&H Fund Services Limited.

Data correct as at 30 June 2014.

The Company's investment benchmark is 2/3 Euromoney Global Mining Index (sterling adjusted) and 1/3 Credit Suisse High Yield Index (sterling adjusted).

 

END

 

 

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