CT UK Capital & Income Investment Trust PLC on Friday maintained its status as an AIC Dividend Hero as the firm reported strong full-year returns.
For the financial year ended September 30, the investment trust realised NAV per share and share price returns of 18% and 17% respectively, whilst its benchmark, the FTSE all-share index returned 13% over the same period.
It said a stabilisation of market conditions over the past year has allowed it to ‘produce stronger results’.
CT UK Capital & Income Investment Trust invests in companies with good long-term prospects with attractive returns on capital, but whose share prices may not reflect this.
Its shares were down 0.2% at 320.81 pence on Friday morning in London.
The trust declared a fourth quarterly dividend of 3.95p per share, bringing its total dividend for the financial year up by 2.9% to 12.50p compared to 12.15p the previous year.
This represents the 31st consecutive year that the firm has increased its annual dividend payments since its launch in 1992, maintaining its status as an AIC Dividend Hero.
An AIC Dividend Hero refers to an investment trust recognised by the Association of Investment Companies for its consistent increase in dividends for 20 or more years in a row.
Chair Jane Lewis said: ‘We are delighted to report another year of strong performance for the full-year to 30 September 2024, with the NAV total return of 18.4% significantly ahead of the benchmark and the dividend continuing to grow.
‘Despite the challenging economic conditions, the company continues to deliver on its objective of long-term capital and income growth.’
Lewis added: ‘While uncertainties remain, we take confidence in the resilience demonstrated by the global economy in adapting to recent challenges.’
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