REG-Manchester & London Investment Trust Plc: Enhanced Dividend Policy

Manchester And London Investment TrustAnnouncement

23/10/2025 11:30

Date: 23 October 2025

Manchester & London Investment Trust plc                    
                     (the "Company")

Enhanced Dividend Policy

On 24 September 2025 the Company announced it would be pausing on-market share
buybacks because the aggregate proportion of the Company’s voting power held
by the public (as that term is used in section 446 of the Corporation Tax Act
2010) is now close to the minimum 35 per cent threshold.                     
The Company paid and/or proposed total dividends last financial year of 28p
per Share split between special dividends and ordinary dividends.

Some shareholders have expressed their view to the Manager that the pause of
share buybacks                     means that total capital returns via
dividends and buybacks to shareholders will hence reduce.

We have listened and the Company would like to announce that it intends to pay
at least 40p per share per annum ordinary dividend for the next five years
(representing an Annual Yield of 5.01 per cent based on the closing share
price of 798p on 22 October 2025) even if a mechanism is found and executed
that allowed share buybacks to continue.

Dan Wright, Chairman of the Company, said:           

“In essence, this makes Manchester & London a unique fund on the London
Market that is both exposed to global growth and the opportunities of the Era
of Artificial Intelligence, whilst also paying an attractive dividend income
which can be relied upon for, at least, the next five years.”

LEI: 213800HMBZXULR2EEO10

Name of authorised official of issuer responsible for making notification

MUFG Corporate Governance Limited, Company Secretary

 



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