Bankers Investment Trust (The) (LSE: BNKR)

Last close As at 21/11/2024

GBP1.14

−0.40 (−0.35%)

Market capitalisation

GBP1,298m

The Bankers Investment Trust (BNKR) aims, over the longer term, to achieve capital growth in excess of a global developed markets index and annual dividend growth greater than UK CPI inflation, by investing in companies listed throughout the world. BNKR has one of the longest records of year-on-year dividend growth for an investment trust. It is listed on the London Stock Exchange with a secondary listing in New Zealand.

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Equity Analyst

Joanne Collins

Joanne Collins

Analyst, Investment Trusts

Key Management

  • Alex Crooke

    Fund manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (0.2) 0.4 12.0
Relative 3.3 2.9 3.7
52 week high/low 117.2p/98.5p

Overview

The Bankers Investment Trust (BNKR) focuses on cash-generating companies and FY23 (ended 31 October 2023) was its 57th consecutive year of dividend growth. Dividends rose by 10%, maintaining the trust’s track record of above inflation dividend growth over the long term. The board expects dividends to rise by at least 5% in FY24. While this is commendable, BNKR’s recent relative total return performance has been adversely affected by its lack of exposure to most of the so-called Magnificent Seven US tech stocks, which the manager, Alex Crooke, has avoided as they do not pay dividends. However, BNKR’s board has recently indicated that it will adopt a more flexible approach to using revenue reserves. This will enable the manager to invest in a broader pool of investments. This greater flexibility has the potential to deliver better capital returns, while ensuring the trust keeps delivering progressive dividend growth.

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