- Investment group Scottish American Investment Company has extended its record of dividend increases to 41 consecutive years by recommending a full-year dividend for 2020 that is 1.1% higher than the 2019 dividend it paid.

The company announced it has recommended a final dividend of 3.00p, taking the full-year dividend to 12.00p per share.

Net asset value total return for the year was 14.5%, ahead of the total return from global equities of 13%, while the company's share price total return was 12% during the period.

It said returns were assisted by the 'resilient' operational performance of many of the companies in which it invests, and also by a positive return from its property investments.

Earnings per share fell slightly over the year to 11.41p, a drop of less than 4%, while investment income was £23.6 million, up from £23 million in 2019.

The fund, which is managed by Baillie Gifford, said it remains the best-performing fund in its Global Equity Income peer group, in terms of NAV total return, over the past five years.

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