Witan Investment Trust PLC Dividend Declaration (0861P)
07 Février 2023 - 8:00AM
UK Regulatory
TIDMWTAN
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 GBP6.0 million from revenue reserves (2021: GBP14.6
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
James Hart, Investment Director
Witan Investment Trust plc
Tel: 020 7227 9770
James.Hart@witan.co.uk
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END
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February 07, 2023 02:00 ET (07:00 GMT)
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