JPM Claverhouse ups year dividend on its IT portfolio

J.P. Morgan Claverhouse investment trust has increased its annual dividend for the 37th consecutive year.

The company recently declared a fourth quarterly interim dividend of 6.4p per share for the year ended 31 December 2009, to be paid on 1 March 2010. This payment will bring the total dividend for the year to 16.9p, an increase of 3% over 2008. Sarah Emly, co-manager of the £237m trust, says the consistent dividend increase has been boosted by the company’s revenue reserves. “We generated a good income last year, but one of the benefits of having built up a revenue reserve is we have been able to maintain the dividend by at least the rate of inflation every year,” she says. Emly ...