IC Top 100 Fund City of London Investment Trust (CTY), Bankers Investment Trust (BNKR) and Alliance Trust (ATST) have all increased their dividends for 50 consecutive years, while a further 17 have increased their dividends every year for 20 years or more.
The Association of Investment Trusts (AIC) Dividend Heroes survey also found that 10 trusts have now increased their dividends for 40 consecutive years or more, seven of which were in the Global sector. These include IC Top 100 Fund F&C Global Smaller Companies (FCS), which has increased dividends for 46 years and yields 0.9 per cent, and Murray Income (MUT), which has increased pay outs for 43 years and yields 4.2 per cent.
Investment trusts are able to hold back up to 15 per cent of their revenue each year, meaning they can build up a reserve to draw on to boost dividends even in years when the companies they invest in cut their dividends.