**Summary**
The Dunedin Income Growth Investment Trust PLCs annual financial report for the year ended January 31, 2026, highlights a strong performance with a total dividend increase of 34.5% to 19.10p per share, a dividend yield of 6.2%, and a net asset value (NAV) total return of 8.2%. The share price total return was 13.8%, outperforming the previous year. The company bought back 14.8 million shares, representing 10.9% of issued share capital, and narrowed the discount to NAV to 7.5%. Despite underperforming the FTSE All-Share Index, the companys quality-focused and sustainability-aligned investment approach continued to deliver robust operational results. The Board introduced a new dividend policy, increasing distributions and aligning with corporate behavior changes. The company remains committed to sustainability, updating its negative screening criteria to increase flexibility and align with best practices. Earnings per share were slightly below the previous year, but the underlying portfolio companies maintained positive growth. The companys ongoing charges ratio remained competitive at 0.57%, and gearing increased slightly to 11.3%. The Board aims to improve relative performance and shareholder engagement, with plans for an online shareholder presentation and a focus on achieving a higher share rating.
| Financial Metric | 2025 | 2026 | Year-on-Year Change |
|---|---|---|---|
| Dividend Yield | 5.0% | 6.2% | +1.2% |
| Net Asset Value (NAV) Total Return per Share | 9.0% | 8.2% | -0.8% |
| Share Price Total Return per Share | 8.4% | 13.8% | +5.4% |
| Revenue Return per Share | 13.8p | 13.6p | -0.2p |
| Ongoing Charges | 0.56% | 0.57% | +0.01% |
| Discount to Net Asset Value | 11.6% | 7.5% | -4.1% |
| Net Gearing | 10.9% | 11.3% | +0.4% |