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Highlights

  • City of London and Bankers Trust have raised dividends for 58 consecutive years.
  • Yields range from ~2.3% to 5.2%, offering both growth and income stability.
  • Merchants, Murray, and JPMorgan Claverhouse continue half-century streaks of annual increases.

The leading FTSE income trusts are recognised as “Dividend Heroes” for their ability to deliver stable and growing payouts across decades of market cycles. These vehicles combine diversified portfolios with revenue reserves, ensuring uninterrupted income streams. Notable names include the City of London Investment Trust, Bankers Investment Trust, Merchants Trust, Murray Income Trust, and JPMorgan Claverhouse Investment Trust—each with more than 40 consecutive years of dividend hikes.

City of London Investment Trust (LSE:CTY)

With 58 consecutive years of dividend growth and a yield of around 4.30%, CTY focuses on UK large-cap equity income, particularly FTSE 100 companies. Its conservative payout policy and emphasis on steady earners have established it as a core choice for reliable income.

Bankers Investment Trust (LSE:BNKR)

BNKR has also delivered 58 straight years of increases, though its yield is a modest ~2.13%. Its strength lies in global diversification across technology, healthcare, and quality growth stocks, offering consistent inflation protection through varied market exposure.

Merchants Trust (LSE:MRCH)

With 43 years of annual increases and a yield of up to 5.37%, MRCH invests in UK large-cap value and high-yield shares. Its higher payouts and focus on defensive sectors make it an attractive option for retirement income.

Murray Income Trust (LSE:MUT)

MUT boasts 51 years of dividend growth, currently yielding ~4.6%. Its mandate prioritises sustainable dividends and lower portfolio volatility, balancing quality growth with dependable income through disciplined stock selection.

JPMorgan Claverhouse Investment Trust (LSE:JCH)

JCH has raised its dividend for 52 consecutive years, with a current yield of around 4.38%. Concentrated on UK equity income, it combines prudent cash flow management with diversified holdings, ensuring steady shareholder returns.

What Defines a Great Income Trust?

  • Track record: Decades of uninterrupted dividend growth through recessions and market shocks.
  • Diversification: Blends large-cap defensives, global sectors, and inflation-resilient assets.
  • Revenue smoothing: Trusts often use reserves to maintain payouts during downturns.
  • NAV position: Some trade at discounts, offering entry points, while others trade at premiums reflecting reliability.