(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.
Abrdn Euro Log (ASLI)