· Fourth interim dividend of 2.52p (2011: 2.15p) declared
· Total dividend up 14.5% to 4.83p (2011: 4.22p) for the year
· Total dividend up more than 140% in seven years
City Natural Resources High Yield Trust plc announces a fourth interim dividend of 2.52 pence per share payable on 31 August 2012 to shareholders on the register on 10 August 2012, with an ex-dividend date of 8 August 2012. The latest dividend payment is in line with the Company's progressive dividend policy which has seen an increased dividend paid every year since inception as shown below:
Financial Year Total dividend % increase
2004/05 2.00p -
2005/06 2.15p 7.5%
2006/07 2.35p 9.3%
2007/08 2.65p 12.8%
2008/09 3.07p 15.8%
2009/10 3.71p 20.8%
2010/11 4.22p 13.7%
2011/12 4.83p 14.5%
Geoff Burns, Chairman of City Natural Resources, said: "We are once again delighted to declare an increased dividend for the 2011/12 financial year. This year's dividend of 4.83p represents a growth of 14.5% over last year's dividend and brings to 7 the number of consecutive years of dividend growth. This performance against a backdrop of continued economic turmoil fully validates our portfolio approach in identifying key investments within the resources sector."
Will Smith and Ian Francis, Managers of City Natural Resources, added: "Amid the continued challenging equity capital markets it is once again satisfying to have delivered substantial dividend growth for shareholders. Within the resources sector we continue to see opportunities in shares, convertibles and fixed income securities upon which we seek to capitalise going forward."
For further information please contact:
New City Investment Managers
0207 201 6900
Newgate Threadneedle Limited
0207 653 9850
Note to Editors:
Winner of the best commodity fund at the Investors Chronicle Fund Awards 2012.
City Natural Resources High Yield Trust plc is managed by Will Smith and Ian Francis of New City Investment Managers.
The investment objective of the Company is to provide shareholders with capital growth and income predominantly from a portfolio of mining and resource equities and of mining, resource and industrial fixed interest securities.
If you would like to receive the monthly factsheet on City Natural Resources High Yield Trust or any of the other New City Investment Managers' funds please email firstname.lastname@example.org
Please see the below table for the Company's ordinary share total return and NAV total return performance over an 8 year period:
12 Months %
Source: R&H Fund Services Limited.
Data correct as at 30 June 2012.
The Company's investment benchmark is 2/3 HSBC Global Mining Index (sterling adjusted) and 1/3 Credit Suisse High Yield Index (sterling adjusted).
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