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City of London IT (CTY)

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Thursday 14 July, 2005

City of London IT

Dividend Declaration

City of London Investment Trust PLC
14 July 2005

HENDERSON GLOBAL INVESTORS

THE CITY OF LONDON INVESTMENT TRUST PLC

14 July 2005



                    THE CITY OF LONDON INVESTMENT TRUST PLC

                             DIVIDEND ANNOUNCEMENT



The Board of The City of London Investment Trust plc announces:

Dividend on the Ordinary Shares



That a fourth interim dividend of 2.26p per Ordinary Share of 25p, in respect of
the year ending 30 June 2005, will be paid on Wednesday 31 August 2005 to
holders registered at the close of business on 29 July 2005.  The Company's
shares will be quoted ex-dividend from 27 July 2005.



Therefore the total dividend for the year to 30 June 2005 will be 8.62p per
share, an increase of 3.5% over the previous year.



The Board is also forecasting a minimum dividend of 9.12p per share (this does
not represent a profit forecast) for the year to 30 June 2006, an increase of
5.8%.  This will be paid at a quarterly rate of 2.28p per share.  The quarterly
rate will next be considered when the Company's third interim dividend is
declared in March 2006, by which time the Board will be able to assess better
the trend in the income performance of the portfolio.



Dividends on the Preference and Preferred Stocks



That the dividends for the half year will be paid on Wednesday 31 August 2005
at:



3.0% on £500,000 Cumulative First Preference Stock
2.1% on £996,151 Non-Cumulative Second Preference Stock
10.0% on £589,672 Non-Cumulative Preferred Ordinary Stock


to holders registered at the close of business on 29 July 2005.



                                     -ENDS-



For further information please contact:



Job Curtis

Portfolio Manager

The City of London Investment Trust plc

Telephone: 020 7818 4367



James de Sausmarez

Head of Investment Trusts

Henderson Global Investors

Telephone: 020 7818 3349


                      This information is provided by RNS
            The company news service from the London Stock Exchange