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(Alliance News) - Aberdeen Standard European Logistics Income PLC on Friday declared a second interim dividend of 1.41 Euro cents per share for 2019.
The dividend is to be paid in sterling on October 7. The investor is targeting a 5% distribution level for an investor at launch in euro terms.
The company said it will use hedging when appropriate, though it does not intend to provide a long-term hedge on income returns - which will still be subject to fluctuations in the euro to sterling exchange rate long-term. It also does not plan to hedge the capital value of its portfolio.
In line with this, the firm has "entered into a foreign exchange hedge to fix the exchange rate at which the euro distributions for the year ending December 31 will be converted to sterling to effect payments at a rate of EUR1:GBP0.8985".
Aberdeen Standard European Logistics plans to declare quarterly interim dividends to shareholders.
Shares in Aberdeen Standard European Logistics were flat at 90.80 pence in London on Friday.