Caledonia Investments yesterday became the latest member of an exclusive club of investment companies that have increased their dividends every year for half a century.
The Association of Investment Companies (AIC) now has four firms listed at the top of its “dividend heroes” table.
“It’s an achievement to now have four investment companies that have consecutively increased their dividends for 50 years,” said AIC’s Annabel Brodie-Smith.
“With interest rates at an all-time low, investors remain hungry for income and investment companies have the unique ability to ‘smooth’ dividends, meaning they can boost dividends from their reserves when times get tough.”
Announcing Caledonia’s latest sweetener, chief executive William Wyatt said: “We are delighted to announce an increase of 4.2 per cent in our total dividends for the year.
“This will be the 50th consecutive year of annual increases and forms a vital part of our return to shareholders. Caledonia’s strategy is focused on its maintenance and gradual increase over the long run.”
Here are AIC’s dividend heroes:
|Company||Sector||Consecutive number of years dividend increased|
|City of London Investment Trust||UK Equity Income||50|
|Bankers Investment Trust||Global||50|
|F&C Global Smaller Companies||Global||46|
|Foreign & Colonial Investment Trust||Global||46|
|Brunner Investment Trust||Global||45|
|JPMorgan Claverhouse Investment Trust||UK Equity Income||44|
|Murray Income||UK Equity Income||43|
|Witan Investment Trust||Global||42|
|Scottish American||Global Equity Income||37|
|Merchants Trust||UK Equity Income||35|
|Scottish Mortgage Investment Trust||Global||34|
|Scottish Investment Trust||Global||33|
|Temple Bar||UK Equity Income||33|
|Value & Income||UK Equity Income||29|
|F&C Capital & Income||UK Equity Income||23|
|British & American||UK Equity Income||22|
|Schroder Income Growth||UK Equity Income||21|
|Northern Investors Company||Private Equity||21|