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LONDON (Alliance News) - Chelverton Small Companies Dividend Trust PLC on Thursday announced a name change, while one of its non-executive directors has also decided to resign.
The company said it intends to change its name to Chelverton UK Dividend Trust PLC from Friday to "better reflect its ethos" as an income fund in the UK equity income sector as the trust seeks an above average yield and capital growth.
In addition, the company said Non-Executive Director David Harris will leave after its annual general meeting in September. Chelverton has already found a successor and said Andrew Watkins will replace Harris.
Watkins has over 25 years' experience in various senior roles with Invesco Perpetual, Jupiter and Flemings. Also he is a non-executive director of F&C UK High Income Trust PLC.
Separately, the company declared an interim dividend of 2.40 pence plus a special dividend of 0.66p per share.
Shares in Chelverton closed 0.2% lower at 256.05p on Thursday.