Value and Income Trust plc Statement re Dividend and Director Appointment (6211Y)
September 10 2020 - 4:43AM
UK Regulatory
TIDMVIN
RNS Number : 6211Y
Value and Income Trust plc
10 September 2020
VALUE AND INCOME TRUST PLC
STATEMENT RE FIRST QUARTER DIVIDEND AND DIRECTOR APPOINTMENT
DECLARATION OF FIRST QUARTER DIVIDEND
The Board of Value and Income Trust PLC ("the Company") declares
a first quarter dividend of 2.9p per Ordinary Share in respect of
the year to 31 March 2021 payable on 30 October 2020 to
shareholders on the register at close of business on 2 October
2020. The ex-dividend date is 1 October 2020.
It is the Board's intention to maintain the same level of
dividend payment of 2.9p per share for the second and third quarter
dividends to be paid on or around 29 January 2021 and 30 April 2021
respectively. Record dates and ex-dividend dates for these payments
will be confirmed in due course.
The Board will announce in due course the proposed fourth and
final dividend payment for the year to 31 March 2021, which,
subject to shareholder approval, will be paid on or around 30 July
2021.
Using the benefits of the closed end structure, it is the
Board's intention to preserve the Company's strong dividend record,
if possible, by distributing part of the Company's capital reserves
of 154.4p per share if necessary. However, maintaining the record
for the long term will require dividend cover to be rebuilt over
the years ahead.
APPOINTMENT OF NEW DIRECTOR
The Company is pleased to announce the appointment of Matthew
Oakeshott as a Non-executive Director with immediate effect.
Matthew is one of the original founders of the Company having
previously served on the Board from 1 April 2007 to 1 April 2019.
Matthew is Chairman of OLIM Property Limited, which currently
manages the Company's property portfolio.
The Board intends to carry out a strategic review of the
investment policy of the Company and this appointment forms part of
that review. The Board will report further in the Half-Year Report
to 30 September 2020, expected to be published in November
2020.
As at the date of this announcement, Matthew Oakeshott and
persons closely associated with him hold 11,109,750 Ordinary Shares
in the Company (representing 24.39% of the ordinary issued share
capital).
There are no other disclosures required under Section 9.6.13 (1)
to (6) of the Listing Rules.
For further information please contact:-
Maven Capital Partners UK LLP
Company Secretary
Tel: 0141 306 7400
10 September 2020
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END
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