Dividend Declaration

RNS Number : 2200B

Witan Investment Trust PLC

10 February 2022

 

10 February 2022

WITAN INVESTMENT TRUST PLC

Payment of a Fourth Interim Dividend

Witan Investment Trust plc hereby announces that a fourth interim dividend of 1.52p per ordinary share of 5p, in respect of the year ended 31 December 2021, will be paid on Friday 18 March 2022 to shareholders registered at the close of business on Friday 25 February 2022 (the ex-dividend date is Thursday 24 February).  Taken together with the three interim dividends of 1.36p each paid in June, September and December 2021, this represents a total dividend payment of 5.60p in respect of 2021 (2020: 5.45p).  The increase of 2.8% is ahead of the 2.6% average rate of consumer price index inflation in 2021.  As in 2020, the dividend is being partly funded from retained revenue reserves. Subject to finalisation of the accounts, the call on revenue reserves is expected to be lower (circa £14.6m) than the £19m used in 2020.

The Company's policy is that over the long term it intends (subject to market conditions) to grow the dividend in real terms, ahead of inflation.  The Company has increased its dividend every year since 1974 (a 47 year record of increases), recognising the importance for many of its investors of a reliable and growing income.

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 2022) will be paid at the rate of 1.40p (2021: 1.36p), being one quarter of the 5.60p total payment in respect of 2021.

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.

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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