AIC names ‘next generation’ dividend heroes

The Association of Investment Companies (AIC) has released a list of what it calls “next generation dividend heroes” – that is, closed-ended investment trusts that have increased their dividends each year for 10 years or more but less than 20 years.

The list has 18 investment trusts on it, with Northern Investors Company’s private equity fund at the top, having increased its dividend for 19 years in a row.

The newest entry on the list was Murray International Trust, whose Global Equity Income fund has increase its dividend for 10 years in a row.

The AIC said Schroder Oriental Income is “on the brink” of joining the list, if the company increases its dividend in 2016.

AIC communications director Annabel Brodie-Smith  said: “The ability to boost dividends by holding back some income for tough times is an important advantage of the investment company sector.  Currently 12% of investment companies have a 10 year or longer record of increasing their dividend every year.”

The AIC has a separate list for investment trusts that have increased their dividends for more than 20 years. At the top of the list are City of London, Bankers, and Alliance Trust, which have each increased their dividend for 49 years in a row.

Altogether there are 19 investment trusts on the list.

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