NB Private Equity Partners Limited Second 2018 Dividend And New Target Dividend Policy
July 19 2018 - 2:00AM
UK Regulatory
TIDMNBPE
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE
UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
NB Private Equity Partners Announces its Second 2018 Dividend and
Announces New Target Dividend Policy
19 July 2018
Second 2018 Dividend
NB Private Equity Partners Limited ("NBPE" or the "Company"), a
closed-end private equity investment company, today declared the second
2018 semi-annual dividend payment on the Company's class A Ordinary
Shares ("Shares") of $0.28 per Share, to be paid on 31 August 2018. This
dividend is a $0.03 increase from the Company's prior dividend
payment.(1) On an annualised basis, this dividend payment represents a
dividend yield of 4.1% based on the London Stock Exchange closing price
of GBP10.50 ($13.70 at GBP/USD exchange rate of $1.305) on 18 July 2018.
NBPE also announces a target dividend policy as a further enhancement of
its ongoing policy of returning capital to shareholders. NBPE intends to
target an annualised dividend yield of 3.0% or greater on NAV and plans
to continue to make semi-annual payments to shareholders. This dividend
yield is a target only, is subject to available capacity and is not
guaranteed.
The dividend is payable from income and realisations and is
approximately 4.8x covered based on 30 June 2018 YTD cash distributions
to NBPE of approximately $131 million.(2)
While the Company declares dividends in US Dollars, Shareholders will
receive Sterling at the prevailing rate at the time of currency
conversion, unless an election to receive dividends in US Dollars is
made on forms which are available on NBPE's website prior to the
currency election date listed below. If an investor has previously
elected to receive US Dollars, that election will be used unless
changed. Investors who seek capital gains rather than income also have
the option of participating in a dividend re-investment plan, forms of
which are available on NBPE's website.
Dividend Timetable
Distribution amount: $0.28 cents per Share
Ex-dividend date: 26 July 2018
Dividend record date: 27 July 2018
Final day for Currency Election: 3 August 2018
Final day for Dividend Re-investment Plan Election(3) 10 August 2018
:
Payment date: 31 August 2018
1. This dividend as well as future dividends shall be conditional on the
passing of the solvency test under Guernsey law. The Board of Directors
will continue to evaluate the Company's financial position, annual
dividend amounts and the timing of future dividends. Future dividend
payments will be announced by NBPE after the Board of Directors have
completed such evaluation.
2. The above distribution guidance regarding investment portfolio
performance is not a profit forecast. There can be no assurance that this
distribution level will be sustained or that the Company will make any
distributions whatsoever. The times and dates in this announcement are
expected times and dates only and are subject to change. Any such changes
will be notified to shareholders through a regulatory information
service.
3. Anyone acting for the account or benefit of a U.S. person who elects to
receive additional shares through the dividend re-investment plan would
need to sign a Qualified Purchaser certification, which is available from
the Company's Investor Relations upon request by contacting +1 214 647
9593 or IR_NBPE@nb.com.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Neustria Partners +44 20 3021 2580
Nick Henderson
Nick.Henderson@neustriapartners.com
Robert Bailhache
Robert.Bailhache@neustriapartners.com
Charles Gorman
Charles.Gorman@neustriapartners.com
ABOUT NB PRIVATE EQUITY PARTNERS LIMITED
NBPE is a closed-end private equity investment company with class A
ordinary shares admitted to trading on the Premium Segment of the Main
Market of the London Stock Exchange and Euronext Amsterdam. NBPE has
2022 and 2024 ZDP Shares admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange. NBPE holds a
diversified portfolio of direct equity investments, direct income
investments and fund investments selected by the NB Alternatives group
of Neuberger Berman, diversified across private equity asset class,
geography, industry, vintage year, and sponsor.
LEI number: 213800UJH93NH8IOFQ77
ABOUT NEUBERGER BERMAN
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies-including equity, fixed income, quantitative and multi-asset
class, private equity and hedge funds-on behalf of institutions,
advisors and individual investors globally. With offices in 20 countries,
Neuberger Berman's team is more than 2,000 professionals. For four
consecutive years, the company has been named first or second in
Pensions & Investments Best Places to Work in Money Management survey
(among those with 1,000 employees or more). Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking. It manages $304 billion
in client assets as of June 30, 2018. For more information, please visit
our website at www.nb.com.
This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security.
NBPE is established as a closed-end investment company domiciled in
Guernsey. NBPE has received the necessary consent of the Guernsey
Financial Services Commission and the States of Guernsey Policy Council.
NBPE is registered with the Dutch Authority for the Financial Markets as
a collective investment scheme which may offer participations in The
Netherlands pursuant to article 2:66 of the Financial Markets
Supervision Act (Wet op het financial toezicht). All investments are
subject to risk. Past performance is no guarantee of future returns. The
value of investments may fluctuate. Results achieved in the past are no
guarantee of future results. This document is not intended to constitute
legal, tax or accounting advice or investment recommendations.
Prospective investors are advised to seek expert legal, financial, tax
and other professional advice before making any investment decision.
Statements contained in this document that are not historical facts are
based on current expectations, estimates, projections, opinions and
beliefs of NBPE's investment manager. Such statements involve known and
unknown risks, uncertainties and other factors, and undue reliance
should not be placed thereon. Additionally, this document contains
"forward-looking statements." Actual events or results or the actual
performance of NBPE may differ materially from those reflected or
contemplated in such targets or forward-looking statements.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: NB Private Equity Partners Limited via Globenewswire
http://www.nbprivateequitypartners.com
(END) Dow Jones Newswires
July 19, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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