From MoneyWeek · · 2m
21 investment trusts that raised dividends for 20+ years
Some investment trusts have increased payouts to shareholders every year for decades, with one hitting 60 consecutive years.
In brief
Some investment trusts have increased payouts to shareholders every year for decades, with one hitting 60 consecutive years. Investment trusts can smooth dividend payments by retaining up to 15% of annual income as reserves, enabling consistent growth even in tough markets. Originally reported by MoneyWeek.
Investment trusts smooth dividend payments
Investment trusts can retain up to 15% of annual income and use these reserves to boost dividends during difficult markets.
“A trust can retain up to 15% of the income it receives each year, and this reserve of income can be used to boost dividends when markets are difficult.”
Dividend heroes raise payouts 20+ years
The Association of Investment Companies tracks 'dividend heroes' that have increased dividends for at least 20 consecutive years.
City of London leads with 60 years
City of London Investment Trust topped the list with 60 consecutive years of dividend increases. It invests in UK stocks like HSBC, Shell and NatWest.
“By reaching this milestone we celebrate not only 60 years of consecutive annual dividend increases, but also the resilience of the UK market.”
Three trusts approaching 60 year milestone
Bankers Investment Trust, Alliance Witan and Caledonia Investments have each raised dividends for 59 consecutive years.
Bankers holds global tech giants
Bankers Investment Trust focuses on global stocks with growth potential. Its largest holdings include Nvidia, Amazon and Taiwan Semiconductor.
Alliance Witan uses 11 fund managers
Alliance Witan employs 11 fund managers who pick high-conviction global stocks. Top holdings include Microsoft, Alphabet and Taiwan Semiconductor.
Caledonia invests in public and private
Caledonia Investments holds both public and private companies globally, mostly in North America, the UK and Asia.
BlackRock Greater Europe joins the club
BlackRock Greater Europe became a dividend hero in May 2026, reaching 20 consecutive years of increased dividends with a 3.06% annualised growth rate.
European trust spans dozen countries
BlackRock Greater Europe invests across more than a dozen European countries, with 22.5% in the Netherlands, 16% in France and 16% in Switzerland.
21 trusts made the heroes list
The complete list includes trusts across sectors from UK equity income to global smaller companies, with dividend yields ranging from 0.31% to 7.10%.
What it means
Investment trusts can smooth dividend payments by retaining up to 15% of annual income as reserves, enabling consistent growth even in tough markets.
