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Witan Investment Trust plc is to pay a second interim dividend of 6.55p per ordinary share of 25p on Friday 30 March 2012, in respect of the year ended 31 December 2011(2010: 6.5p), to shareholders registered at the close of business on Friday 2 March 2012.
The Company has increased its dividend each year since 1974, making 2011 the 37th consecutive year of increases in the dividend.
Taken together with the first interim dividend of 5.45p paid in September 2011 (2010: 4.4p), this represents a total dividend payment of 12p in respect of 2011(2010: 10.9p), an increase of 10.1%. This compares with the 4.2% rise in the consumer price index in the year to December 2011. The dividend is fully covered by the Company’s 2011 revenue earnings per share (subject to finalisation of the Annual Results for 2011).
Andrew Bell, Chief Executive Officer of Witan Investment Trust said:
“The 10.1% rise in the dividend for 2011 (more than twice the rate of inflation) reflects strong growth in the Company’s revenue earnings per share. We announced a revised policy last year to set the first interim payment at 50% of the previous year’s total payment. In the absence of unforeseen circumstances we therefore expect the first interim dividend in respect of 2012 to be 6p (2011: 5.45p).”
The Company’s policy is that itintends (subject to market conditions) to grow the dividend in real terms, ahead of inflation.
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For further information please contact:
Andrew Bell, Chief Executive Officer Witan Investment Trust plc Tel: 020 7227 9770 Andrew.firstname.lastname@example.org
James Frost, Marketing Director Witan Investment Trust plc Tel: 020 7227 9770 James.email@example.com
Jain Castiau, Director Cauldron Consulting Tel: 0203718 7236/07909 963 969 Jain.firstname.lastname@example.org
Notes to Editors
Witan Investment Trust plc
Established in 1909, Witan is one of the UK’s largest investment trusts, managing some £1,1074m (as at 30.09.2011, source Witan) on behalf of some 35,000 investors. Witan is listed in the ‘Global Growth’ sector and is a member of the FTSE 250 index. Registered as an Investment Company in England No 101625.