15 Sep 2022 07:00
Troy Income & Growth Trust plc
To: RNS
From: Troy Income & Growth Trust plc
LEI: 213800HLNMQ1R6VBLU75
Date: 15 September 2022
Dividend Declaration
The Board of Troy Income & Growth Trust plc has declared a fourth interim dividend of 0.50p per share (2021 - 0.49p per share) in respect of the year to 30 September 2022 payable on 21 October 2022 to shareholders on the register at the close of business on 7 October 2022.
This fourth interim dividend brings the total dividend for the year ending 30 September 2022 to 1.97p per share (2021 - 1.96p), an increase of 0.5% over the previous year. It is the Board's intention, barring unforeseen circumstances, that they will at least maintain the quarterly dividend rate of 0.50p per share for the full year to 30 September 2023.
As noted in the Interim Report, the Managers had anticipated robust growth in dividends from the underlying portfolio companies this year, and it is pleasing to have seen this materialise despite difficult economic conditions. Also noted in the Interim Report was the Board's intention to begin increasing the dividend while also rebuilding dividend cover, to reflect the underlying improvement. The increase in the quarterly dividend rate to 0.50p per share represents a 2.0% rise in the quarterly rate and while modest, is consistent with the underlying improvement while also rebuilding dividend cover.
All enquiries
Juniper Partners Limited (Company Secretary)Tel: 0131 378 0500