Seneca Global Income & Growth Trust PLC (LON:SIGT) said it will maintain its dividend at the current level at least until April 2022.

The value-strategy focused investment trust today announced an unchanged third dividend payment of 1.68p for the year to April 2021.

In a statement, it said it recognised the importance of the predictability of dividends to shareholders and was reviewing payouts in lieu of the COVID-19 pandemic.

“The Board had hoped for greater clarity by now, but it is clear this will take longer to emerge,” it said.

“The Board has therefore decided that the Company will continue at least to maintain the 1.68p per share quarterly dividend rate for at least the next financial year to 30 April 2022, barring unforeseen circumstances. 

“As has been noted before, the Company has significant distributable reserves that allow the payment of an uncovered dividend for as long as may be considered appropriate.”

The company added that following the takeover of its manager Seneca, the company’s name will be changing to Momentum Multi-Asset Value Trust PLC.

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