Dividend increase for Standard Life trust

Dividend increase for Standard Life trust

Investors in the Standard Life Equity Income Trust stand to receive a second quarterly dividend of 3.40p a share, bringing total dividends for the six months to 31 March to 6.60p a share.

The trust also posted strong six-month results with a rise in total assets from £190.4m to £212.5m.

It ranked fourth out of 21 peers in the UK Equity Income sector based on net asset value total return for the period, with a share price total return of 5.7 per cent.

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The fund, which has held a larger proportion of medium-sized stocks since 2011, provided a net asset value total return of 82.9 per cent, compared with the benchmark total return of 47.7 per cent.

Thomas Moore, investment director at Standard Life Investments, said: “We remain confident in the company’s positioning and in our ability to identify attractive valuation opportunities.

“We continue to favour consumer-facing areas of the market in anticipation of a sharp pick-up in domestic consumer demand resulting from a lower cost of living, higher employment levels and rising real wages.”