Balanced Commercial Property Trust (ticker: BCPT) was launched in 2005 raising around £735m of equity and £230m of debt to buy a portfolio of around 30 UK commercial properties. Since its IPO, it has been run by Richard Kirby and it is now part of the Columbia Threadneedle stable. After paying a 6.0p per share dividend from 2006 through to 2019, albeit only partly covered by earnings, COVID led to a short-term dip in rents received so the payout was cut by more than half to 2.85p in 2020. As rental collection recovered, the dividend rose to 4.25p in 2021 and then 4.7p in 2022, being fully cove...