FOREIGN & Colonial Investment Trust yesterday said it planned to hike its dividend nearly six per cent for 2013, a lower rate of increase than this year’s payout to investors.
The trust, established in 1868 and the first of its type in the world, plans to pay a dividend of 9p for 2013, the 43rd consecutive year it has increased dividends.
It paid 8.5p in an annual dividend last year, a 19.7 per cent increase from 2011 – higher than this year’s 5.9 per cent rise.
Yesterday it said the trust’s net asset value per share for the full year ending December 2012 increased 10.8 per cent. The outfit also revealed it had cut the gearing of the fund from 15.8 per cent to 12 per cent.