The Merchants Trust Plc proposed a final quarterly dividend for shareholder approval of 7.0 pence which means for the full year to January 2023 an increased dividend of 27.6 pence (2022: 27.3 pence). The annualised growth rate of the dividend paid by the trust over 41 years stands at 6.6%, well above the rate of inflation over that period which stands at 3.5% annually as measured by the Consumer Prices Index (CPI). Subject to a shareholder vote at AGM on 18 May a final dividend will be payable on 26 May 2023 to shareholders on the register at close of business on 21 April 2023.

A Dividend Reinvestment Plan ('DRIP') is available for this dividend for which the relevant Election Date is 5 May 2023 and the ex-dividend date is 20 April 2023.