Murray Income Trust (LSE: MUT)

Last close As at 17/07/2024

GBP8.75

−8.00 (−0.91%)

Market capitalisation

GBP924m

Murray Income Trust (MUT) aims to provide a high and growing income combined with capital growth, through investment in a portfolio principally of UK equities. MUT focuses on companies that have potential for real earnings and dividend growth, while also providing an above-average portfolio yield. The emphasis is on the management of risk and the portfolio’s absolute return. MUT measures its performance versus the broad UK stock market.

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Equity Analyst

Joanne Collins

Joanne Collins

Analyst, Investment Trusts

Key Management

  • Louise Bouverat

    Manager - Investment Trust Promotion

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 2.8 5.2 5.2
Relative 1.6 0.1 (5.4)
52 week high/low 898.0p/770.0p

Overview

Murray Income Trust (MUT) invests in high-quality, mainly UK-listed stocks. It has achieved both its dividend and capital growth objectives over the long term. The trust boasts 50 years of continually rising dividends. It paid a dividend of 37.5p per share in FY23 (ended 30 June 2023 (FY22: 36.0p)), and the board has indicated the dividend will rise to at least 38.0p in FY24. This represents a prospective yield of 4.5%. Late last year the company decided to take action to allow shareholders to access dividend income more quickly and more evenly throughout the year, by smoothing quarterly dividend payments. MUT has also delivered absolute gains and outperformance of the market and most of its peers over the longer term, returning an annual average of 6.1% in NAV terms over the 10 years ended 31 March 2024, versus an average market gain of 5.8% pa. The trust’s managers view UK equities as very attractively priced at current levels and expect the portfolio’s quality holdings to outperform as and when UK stocks return to favour with investors.

Research

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Murray Income Trust — Milestones marked by a return to form

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Murray Income Trust — Attractive income at a discount

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Murray Income Trust — Attractive income and long-term outperformance

Review

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Murray Income Trust — A happy anniversary for shareholders

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Murray Income Trust — Maintaining a commitment to quality and income

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