Board Change • Apr 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Margaret Vaughan was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 22
Final dividend increased to UK£0.33 Dividend of UK£0.33 is 2.3% higher than last year. Ex-date: 5th March 2026 Payment date: 2nd April 2026 Dividend yield will be 2.0%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 44% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 26, 2026 Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 26, 2026. Announcement • Feb 13
Rights and Issues Investment Trust PLC Announces Board and Committees Changes Rights and Issues Investment Trust PLC announced the intention to appoint Ms Ruth Beechey as a Non-Executive Director and Chair of the Nomination and Remuneration Committee with effect from the conclusion of the Annual General Meeting which is to be held on March 26, 2026. Ms Beechey has extensive experience as a lawyer in the fund management industry, including as Associate Counsel at Deutsche Asset Management, Head of Legal at UBS Asset Management UK. Latterly she was Chief of Staff at UBS Asset Management UK. Ms Beechey is also a non-executive director at Legal and General Assurance (Pensions Management) Ltd. and Brown Advisory US Smaller Companies PLC. The Company also announced that Mr. Jonathan Roper will retire from the Board with effect from the conclusion of the Annual General Meeting. The Board would like to thank Mr. Roper for his most valuable contribution to the Company throughout his 15 years of service. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Margaret Vaughan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 28
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 2.1% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (UK£571k revenue, or US$772k). Minor Risk Paying a dividend despite being loss-making. Upcoming Dividend • Aug 24
Upcoming dividend of UK£0.12 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 26 September 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (5.4%). Lower than average of industry peers (2.8%). Declared Dividend • Aug 10
First half dividend increased to UK£0.12 Dividend of UK£0.12 is 2.1% higher than last year. Ex-date: 28th August 2025 Payment date: 26th September 2025 Dividend yield will be 2.0%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (14% cash payout ratio). The dividend has increased by an average of 38% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Aug 08
Rights and Issues Investment Trust Public Limited Company Declares Interim Dividend in Respect of the Six Months Ended June 30, 2025, Payable on September 26, 2025 The Directors of Rights and Issues Investment Trust PLC have declared an interim dividend of 12.25p per share in respect of the six months ended 30 June 2025. The dividend will be paid on 26 September 2025 to shareholders on the register on 29 August 2025. The ex-dividend date is 28 August 2025. New Risk • Aug 08
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: UK£571k (US$768k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m (UK£571k revenue, or US$768k). Announcement • Aug 08
Jonathan Roper to Step Down from the Board of Rights and Issues Investment Trust Public Limited Company Rights and Issues Investment Trust Public Limited Company announced that Jonathan Roper has informed the Company of his intention to step down from the Board at the next AGM. In light of this the Board will be reviewing its composition and that of its committees with a view to finding a suitable replacement by the end of the year. Jonathan has served on the board for fourteen years and provided much thoughtful and valued support and advice. Declared Dividend • Feb 24
Final dividend increased to UK£0.32 Dividend of UK£0.32 is 2.4% higher than last year. Ex-date: 6th March 2025 Payment date: 4th April 2025 Dividend yield will be 2.1%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Feb 23
New major risk - Revenue and earnings growth Earnings have declined by 8.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Feb 22
Rights and Issues Investment Trust PLC Recommends Final Dividend for the Year Ended December 31, 2024, Payable on April 4, 2025 The Directors of Rights and Issues Investment Trust PLC recommend a final dividend of 32.00 pence per share for the year ended December 31, 2024. Subject to shareholder approval at the Annual General Meeting to be held on March 24, 2025, the dividend will be paid on April 4, 2025 to shareholders on the register on March 7, 2025. The ex-dividend date is March 6, 2025. Announcement • Feb 21
Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 24, 2025 Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 24, 2025. Location: jupiters offices, the zig zag building, 70 victoria street, sw1e 6sq, london United Kingdom New Risk • Feb 19
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Aug 08
First half dividend increased to UK£0.12 Dividend of UK£0.12 is 2.1% higher than last year. Ex-date: 22nd August 2024 Payment date: 27th September 2024 Dividend yield will be 1.8%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 40% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 84% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.4% EPS decline seen over the last 5 years. Announcement • Aug 06
Rights and Issues Investment Trust Public Limited Company Approves Interim Dividend, Payable on September 27, 2024 Rights and Issues Investment Trust Public Limited Company announced interim dividend of 12.00 pence per share has been approved by the Board and is payable on 27 September 2024 to shareholders on the register on 23 August 2024. The ex-dividend date is 22 August 2024. Announcement • Mar 28
Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 27, 2024 Rights and Issues Investment Trust Public Limited Company, Annual General Meeting, Mar 27, 2024. Agenda: To consider the approval of the Directors' Remuneration Policy; to consider the re-election of Mr. Simon Knott, received less than 80% of the votes cast in favor. The Board understands that the vote against resolution 2 relates to the ex gratia payment made to Dr. David Bramwell, the former Chairman, in recognition of his long service with the Company and his contribution as Chair. The Board understands that the vote against resolution 5 relates to concerns over Mr. Knott's independence, having formerly been the CEO of the Company, and his membership of the Audit, Risk and Compliance and Remuneration and Nominations Committee. Upcoming Dividend • Feb 29
Upcoming dividend of UK£0.31 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (3.4%). Declared Dividend • Feb 23
Final dividend of UK£0.31 announced Shareholders will receive a dividend of UK£0.31. Ex-date: 7th March 2024 Payment date: 5th April 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (28% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Feb 21
Rights and Issues Investment Trust plc Recommends a Final Dividend for the Year Ended 31 December 2023, Payable on 5 April 2024 The Directors of Rights and Issues Investment Trust PLC recommend a final dividend of 31.25 pence per share for the year ended 31 December 2023. Subject to shareholder approval at the Annual General Meeting to be held on 27 March 2024, the dividend will be paid on 5 April 2024 to shareholders on the register on 8 March 2024. The ex-dividend date is 7 March 2024. New Risk • Feb 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 1.6% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Upcoming Dividend • Aug 17
Upcoming dividend of UK£0.12 per share at 2.2% yield Eligible shareholders must have bought the stock before 24 August 2023. Payment date: 25 September 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.2%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (3.5%). Announcement • Jul 06
Rights and Issues Investment Trust Public Limited Company to Report First Half, 2023 Results on Aug 01, 2023 Rights and Issues Investment Trust Public Limited Company announced that they will report first half, 2023 results on Aug 01, 2023 Upcoming Dividend • Feb 23
Upcoming dividend of UK£0.29 per share at 1.9% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 31 March 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (3.3%). Announcement • Dec 10
Rights and Issues Investment Trust PLC Announces Board Changes The Board of Rights and Issues Investment Trust PLC announced the intention to appoint Helen Vaughan as a Non-Executive Director and Chair of the Audit, Risk and Compliance Committee with effect from 1 January 2023. Helen has over 30 years of investment management experience. As the Chief Operating Officer for the JOHCM Group, Helen oversaw the transformation of the Group’s operating model to one which supported rapid growth and also significantly reduced operational risk to the business. She retired from this company in September 2019. Prior to joining JOHCM Group in 2004, Helen was Director of Business Development at Credit Suisse Asset Management and before that Head of Investment Operations at SLC Asset Management and Head of Client Accounting at Framlington Group Limited. Helen is a Chartered Accountant and has a BA (Hons) in Combined Arts from the University of Leicester. She currently serves as a non-executive director on three Irish fund boards, an Irish and UK management company and a UK investment trust which has not yet listed. Helen is also a certified independent fund director. Retirement of Non-Executive Director: The Company also announces that David Bramwell will retire from the Board with effect from 31 December 2022. Following David Bramwell’s retirement, David Best will become Chairman of the Board with effect from 1 January 2023. From 1 January 2023, the Board will comprise five Non-Executive Directors, namely David Best, Andrew Hosty, Simon Knott, Jonathan Roper and Helen Vaughan. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Drew Hosty was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Aug 18
Upcoming dividend of UK£0.11 per share Eligible shareholders must have bought the stock before 25 August 2022. Payment date: 26 September 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of British dividend payers (5.2%). Lower than average of industry peers (3.2%). Announcement • Aug 03
Rights and Issues Investment Trust Public Limited Company Announces Interim Dividend, Payable on September 26, 2022 Rights and Issues Investment Trust Public Limited Company announced interim dividend of 10.75 pence per share has been approved by the Board and is payable on 26th September 2022 to shareholders on the register as at 26th August 2022 (ex-dividend 25th August 2022). Announcement • Jun 09
Rights and Issues Investment Trust PLC Announces Executive Changes Rights and Issues Investment Trust Public Limited Company announced that Simon Knott, Investment Director, intends to retire as the investment manager of the Company with effect from 1st September 2022. The Board is pleased to note that Simon will continue as a non-executive director of the Company. With the help of external consultants, the Board has carried out a thorough review of potential investment managers to succeed Simon and is now pleased to announce that, following this review, it intends to appoint Jupiter Unit Trust Managers Limited (“JUTM”) as the Company’s new investment manager with effect from 1stSeptember, 2022. The lead investment manager will be Dan Nickols who will be supported by Matt Cable, both experienced investment managers within the UK Small and Mid-Cap Equity team of Jupiter. Subject to approval from the Financial Conduct Authority, it is also intended that JUTM will become the Alternative Investment Fund Manager (AIFM) and the Company will no longer be a self-managed Alternative Investment Fund with effect from 1st September. This appointment will not result in a change to the investment objective or investment policy of the Company and does not require shareholder approval. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Drew Hosty was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Feb 24
Upcoming dividend of UK£0.24 per share Eligible shareholders must have bought the stock before 03 March 2022. Payment date: 31 March 2022. Payout ratio is a comfortable 4.3% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (4.5%). Lower than average of industry peers (3.1%). Upcoming Dividend • Aug 19
Upcoming dividend of UK£0.11 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 27 September 2021. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (3.8%). Lower than average of industry peers (2.5%). Is New 90 Day High Low • Feb 11
New 90-day high: UK£21.95 The company is up 17% from its price of UK£18.80 on 13 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: UK£21.80 The company is up 18% from its price of UK£18.40 on 01 October 2020. The British market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 11
New 90-day high: UK£19.25 The company is up 5.0% from its price of UK£18.35 on 11 September 2020. The British market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 24
New 90-day high: UK£19.20 The company is up 2.0% from its price of UK£18.83 on 25 August 2020. The British market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Capital Markets industry, which is up 1.0% over the same period. 