Reporting season has just ended and so we take a look at how the listed investment companies under our coverage fared over that time.
A majority of the 34 LICs in our coverage that paid dividends for the six months to 31 December lifted their payouts to shareholders. 19 LICs increased dividends, 11 held dividends flat and just four reduced dividends. Six LICs paid out special dividends, which benefits shareholders ahead of any potential change in the franking credit regime. In a number of cases the special dividend was funded from special dividends received from underlying stock holdings and share buybacks.