CT UK Capital and Income Investment Trust PLC has announced today that it has changed its name to CT Progressive Income PLC, reflecting its long-standing commitment to delivering growing income to shareholders alongside capital growth. As part of this commitment, the Board intends to continue increasing the Company’s total annual dividend per share each year, targeting growth above the rate of inflation.
Full details can be found in the RNS linked here: Change of Name – CT Progressive Income
In summary:
- CT UK Capital and Income Investment Trust has changed its name to CT Progressive Income
- The name change reflects the Company’s focus on delivering a growing income to shareholders. The trust has increased its dividend every year since its launch in 1992 and is recognised by the Association of Investment Companies (AIC) as a Dividend Hero.
- The Board intends to continue increasing the Company’s total annual dividend per share each year, targeting growth above the rate of inflation, as measured by the UK Consumer Price Index, at 30 September each year.
- The Company’s investment manager and Fund Manager remain unchanged, as does its investment objective and policy, which continues to focus on delivering long-term capital and income growth through a portfolio of primarily UK-listed companies.
Nicky McCabe, Chair of CT Progressive Income, commented:
“For more than three decades, the Company has built a strong record of delivering a rising dividend to shareholders while also seeking capital growth.
“In a changing investment trust sector and with evolving investor expectations, the new name communicates the Company’s purpose more clearly and responds to investors’ needs for reliable and growing income that can help them plan for the future.
“For us, ‘Progressive Income’ means an income stream that we aim to grow over time. We intend to continue building on our record of annual dividend increases, with the ambition that this growth should be greater than inflation. At the same time, our investment objective and our focus on reliable income generative companies remain unchanged.”
Investment risks
There is no guarantee that dividends will continue to increase. The value of your investments and any income from them can go down as well as up and you may not get back the original amount invested. Gearing is used for investment purposes to obtain, increase or reduce exposure to an asset, index or investment. The mention of any stocks and bonds is not a recommendation to deal. All information is sourced from Columbia Threadneedle Investments, unless otherwise stated.
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