The Martin Currie Asia Unconstrained Trust has upped its annual dividend 110 per cent from the previous year as shareholders vote to increase the investment trust’s policy on dividend payouts.
The total annual dividend of 16.28p represents a dividend yield of 4.5 per cent. Last year the total dividend from 7.75p.
Chairman Harry Wells says: “It is the Board’s intention to repeat the capital distribution in future years, to be paid on an annual basis along with the final dividend and set by reference to 2 per cent of the prior year-end ex-income NAV.
“The Board believes that the new dividend policy benefits existing shareholders, whilst making the shares attractive to new buyers and appealing to retail investors, who will be able to participate in the potential for capital growth.”
There will be no change to its investment policy.
For the year to 31 March, the NAV and share price rose by 33.5 per cent on a total return basis, which represents its best performance in five years.