12 Oct 2018 10:08
Artemis VCT plc (the 'Company')
Legal Entity Identifier: 549300R6443VUTMRCP48
Dividend Declaration
The Board of Directors of the Company has decided to pay a further special dividend of 4.00 pence per share for the financial year to 30 September 2018. The declaration of this dividend at this time is as a result of the Investment Manager realising further profits from the investment portfolio over the last quarter. It remains the case that there are limited suitable opportunities to reinvest these funds and, as there are technical constraints for VCT companies holding cash, it is the Board's decision to return these funds to shareholders earlier than equivalent dividends in prior years.
In view of the decision to pay a further special dividend, and taking into account the cost and process for doing so, the Board has also decided to pay a second interim dividend of 2.00 pence per share. This second interim will be in lieu of a final dividend.
These dividends will be paid on 30 November 2018 to those shareholders on the register on 26 October 2018, with an ex-dividend date of 25 October 2018. This results in total dividends for the year to 30 September 2018 of 21.00 pence per share.
It is the Board's view that new investments will continue to take priority over special dividends should suitable investment opportunities arise, however, should the Company be in a similar position in the future, having generated significant cash balances, the Board will again consider whether these funds should be returned to shareholders.
For further information, please contact:
Artemis Fund Managers Limited
Company Secretary
Telephone: 0131 225 7300
12 October 2018