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Perpetual Income and Growth investment trust is a new recruit to the dividend heroes

28 May 2019

Perpetual Income and Growth raises its dividend for the 20th consecutive year.

The Association of Investment Companies (AIC) has today announced a new addition to its list of dividend heroes – those investment companies that have increased their dividends each year for 20 years or more.

With a dividend declaration on 23 May 2019, Perpetual Income and Growth Investment Trust attained its 20th year of consecutive dividend increases. With this new addition, there are now 21 investment companies which have increased their dividends every year for 20 years or more.

Commenting on reaching this milestone, Mark Barnett, Manager of Perpetual Income and Growth Investment Trust, said: “Having managed the trust for the past twenty years, I am extremely proud that its annual dividend has been increased for the twentieth consecutive year. That Perpetual Income and Growth Investment Trust has been named an AIC dividend hero reflects the company’s ongoing commitment to helping shareholders achieve their financial objectives.

“To my mind, this long-term success is a result of the trust’s core principles, namely the construction of a high conviction portfolio, an active approach to stock selection and the pursuit of businesses that can be bought and held for the long term. As portfolio manager I continue to pursue companies that can grow their dividend payments ahead of inflation, consistent with Perpetual Income and Growth Investment Trust’s objective of achieving capital growth and real growth in dividends over the medium to longer term.

“As I reflect on the past twenty years, I am proud that the core principles of the trust and the strategy employed are unchanged and remain consistent with the company’s long-term values. I remain convinced that in adhering to the core principles of stock selection, active management and purchasing companies at attractive valuations, Perpetual Income and Growth Investment Trust can continue to meet the requirements of shareholders.”

Annabel Brodie-Smith, Communications Director of the Association of Investment Companies, said: “It’s a great achievement that 21 investment companies have now increased their dividends for 20 or more consecutive years. Investment companies have the unique ability to ‘smooth’ dividends, which means they can tuck away up to 15% of the income they receive each year and use this to boost dividends in leaner times.”

To coincide with the announcement, the AIC has issued an updated table of its dividend heroes:

Dividend heroes

Company

AIC sector

Number of consecutive years dividend increased

City of London Investment Trust

UK Equity Income

52

Bankers Investment Trust

Global

52

Alliance Trust

Global

52

Caledonia Investments

Flexible Investment

51

BMO Global Smaller Companies

Global

48

F&C Investment Trust

Global

48

Brunner Investment Trust

Global

47

JPMorgan Claverhouse Investment Trust

UK Equity Income

46

Murray Income

UK Equity Income

45

Witan Investment Trust

Global

44

Scottish American

Global Equity Income

39

Scottish Mortgage Investment Trust

Global

37

Merchants Trust

UK Equity Income

37

Scottish Investment Trust

Global

35

Temple Bar

UK Equity Income

35

Value & Income

UK Equity Income

31

BMO Capital & Income

UK Equity Income

25

British & American

UK Equity Income

24

Schroder Income Growth

UK Equity Income

23

Invesco Income Growth

UK Equity Income

21

Perpetual Income and Growth

UK Equity Income

20

-Ends-

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Notes

  1. The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment.  Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help members add value for shareholders over the longer term. The AIC has 359 members and the industry has total assets of approximately £191 billion.
  2. Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance.  The value of investment company shares, and the income from them, can fall as well as rise.  You may not get back the full amount invested and, in some cases, nothing at all.
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Annabel Brodie-Smith
Communications Director
Tel: 020 7282 5580
annabel.brodie-smith@theaic.co.uk
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Elmley de la Cour
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