JPMorgan Claverhouse Investment Trust plc Declares Fourth Quarterly Interim Dividend for the Year Ended 31 December 2018; Announces Board Changes; Provides Guidance for the First Three Quarterly Interim Dividends in 2019
Mr. Humphrey van der Klugt has indicated that he intends to retire as a Director of the Company at the Annual General Meeting in 2020 and as part of the Board's succession planning Mr. David Fletcher replaced Mr. van der Klugt as Audit Committee Chairman with effect from 1 December 2018. The Board will start a recruitment process with a view to appointing a new director over the coming year. In accordance with UK Corporate Governance requirements all Directors will stand for re-appointment at the Annual General Meeting.
The Board's dividend policy remains to seek to increase the dividend each year and, taking a run of years together, to increase dividends at a rate close to or above the rate of inflation. Given the Company's strong revenue reserves, the Board currently expects future dividend increases to continue to exceed the rate of inflation. The Board also intends to increase the first three quarterly interim dividends in 2019 from 6.00 pence per share to 6.25 pence per share.