City of London Investment Group PLC's board announced a 1 pence per share increase in the interim dividend to 10 pence, an 11% increase which rewards their shareholders while providing sufficient reserves either to weather unforeseen setbacks or take advantage of opportunities that may arise to further expand the business. An interim dividend of the year ended June 30, 2020 will be paid on March 20, 2020 to members registered at the close of business on March 6, 2020.

While Barry Olliff will no longer be involved in the day- to-day management of the firm, the Board has been keen to retain his wise counsel and, following his retirement from the Board in October 2020, he will therefore remain an adviser to the Group until 31st December 2021. Barry Olliff's retirement from his executive role on 31st December 2019 was the culmination of a two-year management transition which is now complete. Succession planning is always challenging but it is particularly the case when seeking to replace a founder and it is with that in mind that they would like to pay tribute to their new CEO, Tom Griffith, and his executive team for managing a smooth transition with total professionalism. At the same time, they welcome Carlos Yuste to the Board as the director responsible for business development. Carlos has spent an aggregate 17 years in the "CLIG family" and is highly respected for his knowledge of the U.S. institutional investor universe and, given their ambitions to further expand their penetration of this client base with their newer products. Towards the end of 2019, they were informed by their Group Finance Director, Tracy Rodrigues, that, for family reasons, she needed to take a leave of absence and accordingly, she will step down from the Board with effect from 31st March 2020. Barry agreed to the Board's request to complete his term as a Non-Executive, non-independent Director on the Group Board through to October 2020. Additionally, Barry has agreed to serve in an advisory role to the executive team for the next two years. Barry's advisory role and Board position provides a level of business continuity that is uncommon in transitions from a founder to the next generation. Carlos Yuste re-joined the Group Board, as of 1st January 2020. Carlos returned to the Group in 2018, having previously been a CLIG Executive Director from 2005-2015, and originally joined the Group in 2000. Carlos is the Head of Business Development, overseeing their Marketing, Client Service, Web Design, Performance & Attribution teams, as well as other responsibilities. Carlos adds a depth of experience, both within CLIG and the overall investment management industry, which is crucial for the continued development of their business in the years ahead. Tracy Rodrigues, Group Finance Director, has requested a leave of absence for family reasons and will step down from the Board on 31st March 2020.