Second 2018 Dividend and New Target Dividend Policy
July 19 2018 - 02:00AM
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 £10.50
($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
Election3: |
10 August 2018 |
Payment date: |
31 August 2018 |
-
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.
-
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.
-
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
Nb Private Equity Partners (LSE:NBPE)
Historical Stock Chart
From Feb 2024 to Mar 2024
Nb Private Equity Partners (LSE:NBPE)
Historical Stock Chart
From Mar 2023 to Mar 2024