Foreign & Colonial, Britain’s oldest investment company that launched in 1868, today announced its 43rd dividend increase in a row (as well as the departure of manager Jeremy Tigue).
However, the record stands with City of London Investment Trust and Bankers Investment Trust, which have both raised dividends for each of the past 47 years.
Alliance Trust – which issues its latest results on Friday – is on 46 years, as is Caledonia Investments.
“Through good times and bad, through boom and bust, through wars and the recent credit crunch, investment companies continue to produce unparalleled dividend track records,” said AIC communications director, Annabel Brodie-Smith.
“This is due to their unique structure: investment companies have the flexibility to squirrel away some of the income they receive each year and save this for tougher times. This feature has enabled many investment companies to increase their dividends to meet the needs of income investors through thick and thin.”
