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7 Feb 2023 07:00
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 £6.0 million from revenue reserves (2021: £14.6 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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