Will the UK stock market continue to shine?

Key takeaways:

• The City of London Investment Trust outperformed its benchmark for the financial year ending 30th June 2022. The Company has increased its dividend every year since 1966; this 56-year-old record is the longest of any investment trust.
• Stock selection was the key driver of returns, helped by the portfolio’s tilt towards large companies and dividend yield, and away from highly valued, growth stocks.
• While dividends from mining companies have probably peaked – given lower commodity prices – dividend recovery from sectors such as banks and energy should continue to drive the aggregate level of UK dividends higher.