The Board of Fidelity European Trust PLC recommended a final dividend of 4.18 pence per share for the year ended 31 December 2021 (2020: 3.90 pence) for approval by shareholders at the Annual General Meeting on 10 May 2022. The interim and final dividends (total of 6.83 pence) represent an increase of 0.33 pence (5.1%) over the 6.50 pence paid for the year ended 31 December 2020. In the prior year, the dividends of many companies were under pressure, with dividends either being cut or cancelled, and the Company therefore utilised revenue reserves built up in prior years to cover the final dividend.

Unlike open-ended funds, investment trusts can hold back some of the income they receive in good years, thereby building up revenue reserves, which can then be used to supplement dividends during difficult times. Conversely, once company dividends are restored or increased again, it is appropriate to seek to replenish revenue reserves, and they are accordingly returning to policy of retaining a small proportion of earnings in order to help achieve this. The final dividend will be payable on 17 May 2022 to shareholders on the register at close of business on 1 April 2022 (ex-dividend date 31 March 2022).

Shareholders may choose to reinvest their dividends for additional shares in the Company.