Final and special dividend 2019
The Board of The Scottish Investment Trust PLC recommends a final dividend of 6.9p which, if approved, will mean that the total regular dividend for the year will increase by 7.5% to 22.8p and will be the 36th consecutive year of regular dividend increase.
The Board’s target is to declare three quarterly interim dividends of 5.7p for the year to 31 October 2020 and recommend a final dividend of at least 5.7p for approval by shareholders at the Annual General Meeting in 2021. The final dividend will be reviewed in accordance with the Board’s desire to continue the long track record of annual dividend increases and the aim of the Company to provide dividend growth ahead of UK inflation over the longer term.
As previously outlined, following a step-change in our regular dividend, the Company does not intend to routinely pay discretionary special dividends. However, as the income generated during the year was substantial and we see no need to add significantly to revenue reserve this year, the Board recommends a special dividend of 7.45p. The total dividend for the year, if approved, will increase by 20.0% to 30.25p
Subject to shareholder approval, both dividends will be paid on 14 February 2020 to shareholders on the register on 17 January 2020. The ex-dividend date is 16 January 2020.