Saints hikes divi and expects shareholder payouts to rise

In a similar fashion the global growth and income trust anticipates its own dividend will rise during the course of the year.

‘Our current expectation is that this year will mark the low point for income receipts and this, together with the good level of revenue reserves, should allow the dividend to be increased this year,’ Edwardson said.

‘With this in mind, the proposed dividend for the first half is 4.6p of which 2.3p was paid in June and the same amount is to be paid in September.

'This represents a rise of 2.2% on the same period last year. Although this rate of increase is below the rate of inflation (as measured by the Retail Price Index), we remain committed to the objective of achieving real growth in the dividend and believe the portfolio is well placed to do so.’

The £370 million investment company trades at a discount of 3.1% and shares are priced 206.3p.