REG - Witan Inv Tst PLC - Dividend Declaration

Witan Investment TrustAnnouncement

08/02/2024 07:15

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RNS Number : 4008C  Witan Investment Trust PLC  08 February 2024

8 February 2024

 

 

WITAN INVESTMENT TRUST PLC

 

Payment of a Fourth Interim Dividend

 

Witan Investment Trust plc hereby announces that a fourth interim dividend of
1.69p per ordinary share of 5p, in respect of the year ended 31 December 2023,
will be paid on Friday 15 March 2024 to shareholders registered at the close
of business on Friday 23 February 2024 (the ex-dividend date is Thursday 22
February).  Taken together with the three interim dividends of 1.45p each
paid in June, September and December 2023, this represents a total dividend
payment of 6.04p in respect of 2023 (2022: 5.80p).  The dividend is being
partly funded using an estimated £7.0 million from revenue reserves (2022:
£6.4 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
increase of 4.1% this year is ahead of the 4.0% rate of consumer price index
inflation in December 2023 and the dividend has grown substantially ahead of
UK inflation over the past 5 and 10 years.  The Company has increased the
dividend every year for the last 49 years and the latest dividend is more than
double that paid in 2013.

 

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 2024) will be paid at the rate of 1.51p
(2023: 1.45p), being one quarter of the 6.04p total payment in respect of
2023.

 

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 (mailto:james.hart@witan.co.uk)

 

Isabella Seekings, Director of Marketing

Witan Investment Trust plc

Tel: 020 7227 9770

isabella.seekings@witan.co.uk (mailto:isabella.seekings@witan.co.uk)

 

 

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