The Scottish American Investment Company P.L.C. recommends a final dividend of 3.80 pence which will take the full year dividend to 14.10 pence per share, 2% higher than the 2022 dividend of 13.82 pence. This year's increase is modest when set against last year's 9% increase and, whilst inflation has moderated since last year, does not match the annual rate of inflation of 4% as measured by CPI over 2023. It remains the Company's objective to deliver real dividend growth over the long term, and over the last ten years the Company's dividends have in the round increased at a rate (3.3% per annum) which has been above the rate of inflation (2.9% per annum).