Dividend cuts announced by more than a fifth of investment trusts in the split-cap universe

More than 20% of the £14bn split-capital investment trust universe has announced dividend cuts, warn...

More than 20% of the £14bn split-capital investment trust universe has announced dividend cuts, warnings or suspensions since the problems in the sector began last year. Last week, four splits suspended their dividend payments to shareholders after breaching their banking covenants. These were: BFS Income & Growth, BC Income & Growth, Aberdeen Preferred Income and the Dartmore Investment Trust, managed by Exeter. Similarly, American Monthly Income and Jove Investment Trust last week announced plans to alter their dividend payment structures. Two weeks ago, the board of the BFS Geare...