Dividend alert! A FTSE 100 income stock I’d buy for my ISA for 2021 and beyond
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The best choices aren’t always the most obvious. In my view, the FTSE 100 income stock I’m going to talk about today is one of the best big-cap dividend shares you can buy right now. However, relatively few big institutions own the shares.
One exception is top fund manager Nick Train, who runs the Lindsell Train UK Equity Fund. Train’s funds own around 10% of this business. Indeed, Lindsell Train is the company’s second-largest shareholder, after its founding family, who control around 45% of the voting stock.
The company in question is asset management group Schroders (LSE: SDR). This City stalwart was founded more than 200 years ago and has become known for taking a long-term and responsible approach to investment. This isn’t a business that chases quarterly earnings and short-term gains.
This approach has worked very well for long-term holders of this FTSE 100 income stock. Schroders’ dividend has not been cut for at least 30 years, which was as far back as I could research. That unbroken record includes the 2008 financial crisis and this year’s market crash.