The Law Debenture Corporation — Continued strength in diversity

The Law Debenture Corporation (LWDB) has a long-term record of outperformance versus its broad UK equity market benchmark and peers, while delivering above-average DPS growth. This continued in FY24, with the trust’s unique combination of a UK investment trust and a cash-generative professional services operating business (IPS) continuing to generate strong results. The 2024 share price total return of 15.9% was 6.4pp ahead of the benchmark, professional services underlying PBIT grew 6.4% and DPS increased by 4.7%.