Murray International Trust (MYI): Business as usual at Murray International
|
Edison Investment Research Limited
London, UK, 13 September 2023
Murray International Trust (MYI): Business as usual at Murray International The board of Murray International Trust (MYI) has been planning for manager Bruce Stout’s end-June 2024 retirement for a long time. He and the trust’s other two co-managers, Martin Connaghan and Samantha Fitzpatrick, have worked together for many years and they all share the same investment philosophy, so following Stout’s departure it will be business as usual. MYI returned to a covered dividend in FY22 following a two-year period where the trust’s income was negatively affected by COVID. Although real (above inflation) dividend growth is unlikely in the current high inflation environment, the trust has maintained its progressive dividend policy with annual dividend increases for the last 18 consecutive years. MYI offers an attractive 4.6% dividend yield, which is higher than those of its peers in the AIC Global Equity Income sector. In April 2023, the trust undertook a 5:1 share split to increase liquidity.
The managers look to buy ‘good businesses at good prices’, and invest for a three- to five-year time horizon in high-quality companies that are generating strong cash flow and dividends and have a keen focus on shareholder returns. MYI has paid out higher annual dividends for 18 consecutive years, 15 of which have seen dividend growth in excess of the UK inflation rate. If the trust achieves 20 consecutive years of dividend growth, it will be classed as one of the Association of Investment Companies’ (AIC’s) dividend heroes; so far, only 20 companies have achieved this.
All reports published by Edison are available to download free of charge from its website About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Mel Jenner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1724331 13-Sep-2023
Latest directors dealings
- 2 hours ago Frasers Group
- 2 hours ago Cavendish Financial
- 2 hours ago Diaceutics
- 2 hours ago AB Dynamics
- 15 hours ago Johnson Matthey