GCP Asset Backed Income Fund Ltd Dividend Declaration & Scrip Dividend Suspension (8041T)
July 23 2020 - 2:00AM
UK Regulatory
TIDMGABI TIDMGABC
RNS Number : 8041T
GCP Asset Backed Income Fund Ltd
23 July 2020
GCP Asset Backed Income Fund Limited
(the "Company" or "GCP Asset Backed")
LEI: 213800FBBZCQMP73A815
Dividend Declaration and Scrip Dividend Alternative
Suspension
23 July 2020
The Board of GCP Asset Backed, which invests in asset backed
loans, is pleased to announce a quarterly dividend in respect of
the period from 1 April 2020 to 30 June 2020 of 1.55 pence per
ordinary share (the "Q2 Dividend").
The ordinary shares will go ex-dividend on 30 July 2020 and will
be paid on 28 August 2020 to holders of ordinary shares recorded on
the register as at close of business on 31 July 2020.
Scrip Dividend Suspension
The Board, in its discretion, has determined that the offer of a
scrip dividend will remain suspended for the Q2 Dividend. The
suspension is as a result of the significant discount between the
likely scrip dividend reference price of the shares and the current
net asset value per share of the Company. The Board will keep the
payment of future scrip dividends under review.
Future Dividends
The Board recognises the importance of dividends to
shareholders. As noted in the net asset value announcement on 15
July 2020, the Company has had a strong first six months of the
year despite the significant impact of the pandemic and the
dividend remains fully covered.
For further information, please contact:
Gravis Capital Management Ltd +44 (0)20 3405 8500
David Conlon
Joanne Fisk
Investec Bank plc +44 (0)20 7597 4000
Helen Goldsmith
Denis Flanagan
Neil Brierley
Buchanan/Quill +44 (0)20 7466 5000
Helen Tarbet
Sarah Gibbons-Cook
Henry Wilson
Notes to Editors
GCP Asset Backed is a closed ended investment company traded on
the Main Market of the London Stock Exchange. Its investment
objective is to generate attractive risk-adjusted returns primarily
through regular, growing distributions and modest capital
appreciation over the long term.
The Group seeks to meet its investment objective by making
investments in a diversified portfolio of predominantly UK based
asset back loans which have contracted, predictable medium to long
term cash flows and/or physical assets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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