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- F&C proposed final dividend would represent the 50th consecutive annual increase
Global sector company, F&C (FCIT), has reported its annual results to 31 December 2020. The company’s growth and income mandate is carried out through investments in public markets, unquoted investments and private equity. With a market cap of £4.14bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back in 1868.
FCIT’s chair, Beatrice Hollond, noted the following in her outlook statement: “Coming years are likely to provide further challenges. COVID-19 remains a significant threat to near-term growth prospects and while the news on vaccine effectiveness and deployment presents the prospect of a return to normality, risks to the outlook are numerous.
While we do expect better growth as this year progresses, and a consequent improvement in corporate earnings, equity markets have already discounted much of the good news. Valuations are being buoyed by unprecedented monetary and fiscal stimulus and, while we should expect support for some time to come, disappointment on earnings delivery or, critically, on inflation, could give rise to volatility and even a sharp setback in equity markets.”
FCIT: F&C proposed final dividend would represent the 50th consecutive annual increase
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