Bankers Investment Trust bought back a further 450,355 shares on 2 November 2026, continuing an almost daily programme of repurchases as its financial year closed on 31 October with the shares at a discount of about 8% to net asset value.

What happened

Bankers Investment Trust (LSE:BNKR) repurchased the shares at 148.4022p each, a transaction worth about £668,000. Afterwards it held 418,571,176 shares in treasury, with 1,315,102,830 ordinary shares in issue. These figures come from an AI-generated summary on of the 2 November notice.

The announcement list shows repurchase notices on most trading days through October, including every day from 19 October to 2 November. The trust is a constituent of the FTSE All-Share index and sits in the investment trust sector. It is managed within the Janus Henderson group, whose secretarial arm is named as the contact on its Dividend notices.

Nothing beyond routine notices has been published in the past week. The most recent dividend update was on 1 October and the latest factsheet notice was on 23 October.

Why it matters for investors

The scale of treasury holdings shows how much Capital has already been returned. On the figures above, treasury shares equal about 32% of the total in issue, leaving around 897m shares with voting rights. This is our arithmetic and it is consistent with the quoted Market Capitalisation of £1.33bn.

Buying below NAV adds a small amount to NAV per share for remaining holders, and it provides Demand for the shares. It does not ensure the discount will narrow. AJ Bell's data put the current discount at 7.81%, little changed from the 12-month average of 8.38%, which suggests the buying has so far held the gap steady rather than closing it. That is our interpretation.

The NAV figure depends on how Debt is treated. At the close on 30 October, the summary of the 2 November announcement gave 155.9p per share, and 159.9p with debt at fair value. AJ Bell separately listed a latest NAV of 163.40p, dated 29 October, and an estimated 159.89p. The gap between the sources is sizeable, so readers should check which basis applies before relying on any one discount figure.

How the shares have performed

AJ Bell showed bid and offer prices of 147.60p and 148.20p on 2 November, up 0.39p or 0.26% on the previous close of 147.40p. The 52-week range is 125.20p to 157.80p, which leaves the shares around 6% below the high and 18% above the low. Figures for longer periods were not populated on the page.

The Dividend Yield on the page was 1.82%.

The dividend

On 1 October the trust declared a third Interim Dividend of 0.707p for the year ending 31 October 2026, up 3.1% from 0.686p a year earlier. The shares went ex-dividend on 22 October, the Record Date was 23 October and payment is due on 27 November 2026. The notice gave no reason for the increase.

What to watch next

With the financial year now finished, the next steps are a fourth interim dividend and the annual results. No date for either was found in the announcements reviewed. The size of the final payment will determine the rate of dividend growth for the full year.

Total voting rights notices, the latest on 2 November, and daily NAV and repurchase notices will show how quickly the share count is falling. The half-year report could not be read for this article, so we do not comment on recent portfolio performance.