Seven 'dividend hero' investment trusts have announced another year of increases so far in 2020, according to the latest 'dividend heroes' list published by the Association of Investment Companies (AIC).
These include the F&C Investment Trust at 49 years, the Brunner Investment Trust at 48 years and the Witan Investment Trust in its 45th year of raising its dividend.
Alliance Trust, Scottish American, Bankers and Temple Bar were the other four to have confirmed dividend increases since the start of 2020.
The AIC's dividend heroes are defined as those investment trusts that have consistently increased their dividends for 20 or more years in a row.
The City of London Investment Trust, Bankers Investment Trust and Alliance Trust have increased their dividends for 53 consecutive years, with Caledonia Investments the fourth trust to have clocked up more than half a century of dividend increases at 52 years.
Annabel Brodie-Smith, communications director at the AIC (pictured), said: "With the market turmoil of the past few weeks, it is comforting to know that the 21 dividend heroes have been raising their dividends through thick and thin for decades."
She added: "While there is no guarantee, the fact investment companies can save up to 15% of their income each year has helped them to carry on raising dividends through such intense market downturns as the 1987 crash, the dot com bubble bursting and the financial crisis.
"With the difficulties facing markets at the moment, the power of investment companies to deliver rising dividends is reassuring for investors."
The AIC revealed that a further seven ‘heroes' have increased their dividends for 40 or more years in a row and another five have done so for more than 30 consecutive years.