Murray Income Trust - In a celebratory mood
Murray Income Trust (MUT) is currently celebrating two key milestones. This year marks its 100-year anniversary, and 50 years of consistently rising dividends. MUT’s FY23 dividend of 37.5p (up from 36.0p in FY22) represents a current yield of 4.7% and MUT’s board has stated that maintaining the trust’s record of annually increasing dividends remains a priority. Performance has improved after a rare bout of underperformance last year. In the year ended September 2023, MUT returned 14.5%, in line with the benchmark, and in the 10 years to September, it delivered an average annual return of 6.1% on an NAV basis, versus a market return of 5.6%. The trust’s managers, Charles Luke and Iain Pyle, are confident its exposure to some ‘unstoppable long-term trends’ means it is well-positioned to continue delivering positive returns and growing income over the long term.Murray Income Trust is an investment trust company. Co. invests in portfolio of equities in the U.K. Co. invests no more than 15% of gross assets in other listed investment companies (including investment trusts). Co.'s investment portfolio comprised of a range of sectors including oil and gas, basic materials, industrials, consumer goods, healthcare, consumer services, telecommunications, utilities, financials, and technology. Co. is managed by Aberdeen Fund Managers Limited. As of June 30, 2017, Co.'s total investments amounted to £595.4 million.
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