Witan raises dividend 3.8% in 2010

The £1.14bn Witan Investment Trust has raised its dividend 3.8% in 2010 after outperforming its benchmark.

The trust, run by Andrew Bell after his appointment as chief executive in February last year, declared a final dividend of 10.9p, up 3.8% on 2009. The trust's NAV also rose 18.9% in total last year, ahead of the benchmark total return of 15.5%. The trust is benchmarked against a combination of indices including the FTSE All-Share and FTSE All World Europe (ex-UK). Chairman Harry Henderson says Bell's appointment last year has meant the trust has become more proactive in its management style. "This has resulted in the closure of index-orientated mandates and a greater emphasis on un...