City have just announced full year results for the year to 30th June 2018 (link via Investegate). Share price total return has increased by 6.2% over the year. Once again however the performance was less than the FTSE All Share benchmark of 9.0%. The trust took a big hit from the collapse of Provident Financial. The manager however is quick to point out the outperformance over the longer period!
Dividends have increased by 6.0% from 16.7p to currently 17.7p giving a yield of 4.1%. This represents over 50 years of rising dividends - quite an achievement.
Earnings per share rose by 5.0% to 18.7p, mainly reflecting the underlying dividend growth from investments.
Ongoing charges are 0.41% and remain the lowest in the sector.
I have been reducing my exposure to UK equity over the past year or two and I have recently reviewed my strategy as I no longer require income and will focus more towards global growth.
|3 Yr Performance v FGT & TMPL|
As ever, please DYOR