Dividend Policy

IBT offers investors the attractive combination of growth and yield.

In September 2016, IBT announced its intention to pay a dividend equivalent to 4% of NAV at the end of the preceding financial year, paid in two instalments on 31 January and 31 August following that year-end. On 11 December 2019, the Board announced that a dividend of 12.4p per ordinary share would be paid on 31 January 2020, to all shareholders on the register at close of business on 20 December 2019.


Dividend payment dateDividend amount
31 January 202012.4p per share
30 August 201914.0p per share
31 January 201914.0p per share
31 August 201813.5p per share
31 January 201813.5p per share
31 August 201711.5 p per share
31 January 201711.5 p per share

In the current environment of generally low and contracting income in the equity and debt markets, yield is attractive to investors, yet most yields are found in sectors where growth prospects are limited.  By paying a dividend from capital reserves, IBT is able to offer investors a dividend, while still investing in the biotech sector where the prospects for high growth remain for the foreseeable future.




  • You are seeing this because you are accessing IBT’s website for the first time.


  • The information on this website may only be suitable for certain types of investors and is not intended to be used or relied upon by any other person.


  • An investment with IBT may contain significant risks and is intended only for sophisticated investors who meet certain eligibility criteria.


  • The material on this website is intended to be viewed only by persons resident in the EEA.


  • The information on this website is not an offer to sell or a solicitation of an offer and does not constitute investment advice.


  • No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained therein.


  • The information on this website may constitute financial promotion for the purposes of the Financial Services and Markets Act 2000 (“FSMA”).