F&C Investment Trust (LSE:FCIT) has declared its third Interim Dividend for 2026 as it works towards what reports describe as a 56th consecutive annual increase. That record has few rivals on the London market, even though the Yield it delivers today is modest.

The latest step in a long run

The third interim declaration keeps the trust on its usual path of regular payments through the year. Earlier, in August, reports on its half-year results for the six months to 30 June said it was targeting a 56th straight rise in its dividend. Holders should check the trust's own announcement for the sum and the payment date.

Although a single interim payment rarely changes the picture, it serves as a small piece of evidence that the annual progression remains on course. For a trust whose appeal to many shareholders rests on consistency, that is what matters most.

What the numbers show

Our figures come from a data snapshot dated 7 October 2026, in sterling. They show an annual dividend of 4.15p a share, up 6.4% year on year. The latest payment is blank, so it is not available in the data. The trailing 12-month yield is 1.2%, and the indicated yield is also 1.2% after rounding.

A yield of that size will not satisfy anyone looking for a high immediate income. Its value lies mainly in the pace of growth, as a rise of 6.4% is a respectable rate for a mature payer. Compounded over time, increases of this kind can steadily build the income earned on an original investment, although a growing dividend does not protect shareholders from falls in the value of the shares.

The Payout Ratio is 5.6%, a very low figure that would imply cover of nearly 18 times if read literally. It needs caution. Earnings for an investment trust can include gains on its investments, so a solid period for markets can inflate the denominator and make the dividend look far more comfortably covered than recurring income alone would suggest. It therefore shows that the payment is small in relation to reported returns, not that the dividend is secured by 18 times its value in steady income. A similar calculation in a weak year for markets could look very different.

Reading the two streak counts

The snapshot records 42 years of continuous payments and 41 of continuous growth, a formidable record in its own right. Reports of the trust's target of a 56th annual rise point to a longer history than that, and the difference is worth explaining rather than ignoring. Data sets frequently have a limited starting point, whereas a company's own count can reach back further. The two are best read as a data minimum and a company claim.

Whichever figure is used, the message is much the same: annual increases have persisted through recessions, market crashes and changes in interest rates over several decades. Such a run can shape how a board behaves, since breaking it would carry a considerable reputational cost. It may also encourage the use of retained reserves to keep the sequence intact, which is a feature of the investment trust structure, though not an unlimited resource.

That history is a measure of past behaviour rather than a promise, and a very long streak can make investors less alert to underlying income cover.

What to watch

Investors should look for the final dividend for 2026 and the full-year results, which will show whether the 56th rise is delivered and how far it exceeds inflation. Revenue per share compared with the dividend would give a better measure of cover than the snapshot payout ratio can offer.