REG - Witan Inv Tst PLC - Dividend Declaration

Witan Investment TrustAnnouncement

07/02/2023 07:00

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RNS Number : 0861P  Witan Investment Trust PLC  07 February 2023

7 February 2023

 

WITAN INVESTMENT TRUST PLC

 

Payment of a Fourth Interim Dividend

 

Witan Investment Trust plc hereby announces that a fourth interim dividend of
1.60p per ordinary share of 5p, in respect of the year ended 31 December 2022,
will be paid on Friday 17 March 2023 to shareholders registered at the close
of business on Friday 24 February 2022 (the ex-dividend date is Thursday 23
February).  Taken together with the three interim dividends of 1.40p each
paid in June, September and December 2022, this represents a total dividend
payment of 5.80p in respect of 2022 (2021: 5.60p), an increase of 3.6%.  The
dividend is being partly funded using an estimated £6.0 million from revenue
reserves (2021: £14.6 million).

 

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 the dividend every year for the last 48 years and the
latest dividend is more than double that paid in 2012.  Although 2022's
increase does not match the exceptionally high rate of UK inflation in 2022,
Witan's dividend has grown substantially ahead of UK inflation over the past 5
and 10 years.

 

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 2023) will be paid at the rate of 1.45p
(2022: 1.40p), being one quarter of the 5.80p total payment in respect of
2022.

 

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.

 

 

 

- ENDS -

 

 

For further information please contact:

 

Andrew Bell, Chief Executive Officer

Witan Investment Trust plc

Tel: 020 7227 9770

Andrew.bell@witan.co.uk (mailto:Andrew.bell@witan.co.uk)

 

James Hart, Investment Director

Witan Investment Trust plc

Tel: 020 7227 9770

James.Hart@witan.co.uk

 

 

 

 

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