Our Dividend: Growing 10% a Year for Ten Years

November 2025

The Fund's dividend has grown 10% per annum over the last decade – some of our companies have increased their dividends on the back of recovering profits and cash flows (examples such as Stella International or Sky NZ), and this is reinforced by our investment process of continuously rotating the portfolio towards shares offering the most attractive valuations.

This ongoing dynamic – and that the Fund’s yield is a healthy 3.7% net of all fees – underpins our confidence heading into 2026.

Elsewhere, for those of you who aren’t aware, it's worth checking out Geoff's occasional reviews of a range of interesting stocks on LinkedIn.

You can find our usual factsheet here.