Dividends lift Blackrock trust

 
Michael Bow
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BLACKROCK North American Income trust, the newly floated London fund led by Bob Shearer, yesterday said record-breaking dividend payouts had helped it surge 14 per cent in value since October.

The trust, one of only three US dividend trusts listed in the UK, raised £65m in a FTSE float last year.

The board yesterday said the trust had made “good progress” since then, increasing 14.2 per cent in value thanks to a record 12 months for US dividends. About €280bn (£179bn) of dividends have been paid out to investors in the last year, an all time record.

“Dividends in the marketplace have grown markedly in recent quarters and look well positioned for continued growth,” Shearer said.