NB Private Equity Partners Limited Nbpe: Second 2017 Semi-Annual Dividend
July 20 2017 - 2:00AM
UK Regulatory
TIDMNBPE
NB Private Equity Partners Announces its Second 2017 Semi-Annual
Dividend
20 July 2017
Second 2017 Semi-Annual Dividend
NB Private Equity Partners Limited ("NBPE" or the "Company"), a
closed-end private equity investment company, today declared the second
2017 semi-annual dividend payment on the Company's class A Ordinary
Shares ("Shares") of $0.25 per Share, to be paid on 31 August 2017.(1)
The total dividend for 2017 is therefore $0.50 per Share. On an
annualised basis, this dividend payment represents a dividend yield of
3.1% based on the estimated May 2017 NAV of $16.04 and 3.8% based on the
London Stock Exchange closing price of GBP10.16 ($13.27 at GBP/USD
exchange rate of $1.306) on 17 July 2017.
As part of its long-term policy of paying regular dividends, NBPE
intends to make semi-annual payments to its shareholders. As of 31 May
2017, the dividend is 57% covered by the run rate cash yield from the
income investments in the portfolio and approximately 4x covered based
on total 2017 YTD cash distributions of approximately $104 million. NBPE
continues to see a steady flow of new equity and income investment
opportunities as well as strong distribution activity from investment
realisations.2
Change to Default Dividend Currency Election
Following the Company's listing on the Premium Segment of the Main
Market of the London Stock Exchange and the redenomination of the
Company's trading currency into Sterling, an election for a Sterling
dividend payment will no longer be necessary and shareholders who wish
to continue to receive their dividend in Sterling need to take no
additional action and will receive Sterling at the prevailing rate.
However, shareholders who wish to receive dividends in US Dollars will
need to make the appropriate election on forms which will be available
on NBPE's website in the coming days. If you're electing for the
dividend re-investment plan you should note that the shares will now be
purchased in GBP so any residue balance or partial cash dividend will be
paid in Sterling, though as per the terms and conditions, dividend
re-investment plan elections continue to be evergreen and pending
termination or withdrawal from the plan, residuals will be carried
forward and added to future dividends. There will be no changes to the
reporting currency or the currency in which NBPE declares dividends
(which will remain US Dollars).
Dividend Timetable
Distribution amount: $0.25 cents per Share
Ex-dividend date: 27 July 2017
Dividend record date: 28 July 2017
Final day for Currency Election: 4 August 2017
Final day for Dividend Re-investment Plan Election3: 11 August 2017
Payment date: 31 August 2017
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 (0)20 3021 2583
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 Euronext Amsterdam and the
Premium Segment of the Main Market of the London Stock Exchange. NBPE
has 2022 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.
ABOUT NEUBERGER BERMAN
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages equities, fixed
income, private equity and hedge fund portfolios for institutions and
advisors worldwide. With offices in 19 countries, Neuberger Berman's
team is approximately 1,900 professionals, as of June 30, 2017. The
company was named the #1 firm in Pensions & Investments 2016 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 $271 billion in client assets as of June 30, 2017. For more
information, please visit our website at www.nb.com.
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
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 20, 2017 02:00 ET (06:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Nb Private Equity Partners (LSE:NBPE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nb Private Equity Partners (LSE:NBPE)
Historical Stock Chart
From Apr 2023 to Apr 2024