City of London trust heads dividend chart

City of London investment trust has topped its peer group for the longest uninterrupted rise in annual dividends.

City of London grew its dividend each year since 1967, according to a list of trust dividends compiled by the Association of Investment Companies. It just beat Alliance Trust, Bankers Investment Trust and Caledonia Investments, which each grew their dividends since 1968. In total, 15 trusts have increased their dividends for at least 26 years in a row. This growth contrasts to recent dividend contraction in the broader UK share market, which cut dividends on average by 15% last year, according to Capita Registrars. Katherine Garrett-Cox, Alliance Trust chief executive, says the ...