Last checked at 26 Nov 2008 15:43
To: Company Announcements
Date: 26 November 2008
Company: F&C Commercial Property Trust Limited
Subject: Dividend Declaration
Change to dividend payment schedule
The Board has reviewed the Company's dividend payment schedule and has decided to pay dividends monthly, rather than quarterly. The dividend announced below of 1.0 pence per share is in respect of the two months to 31 August 2008 and will be followed by four further monthly interim dividends each of 0.5 pence per share in respect of the financial year ending 31 December 2008. The annual dividend level will therefore be maintained at 6.0p per share.
It is the Directors' intention that the Company will continue to pay dividends monthly in respect of the financial year ending 31 December 2009 and thereafter; the first such payment will be made in May 2009. This will significantly increase the headroom in respect of the bond covenants relating to dividends and ensure that the Company can continue to pay an attractive level of income whilst also giving the Company flexibility to use its cash reserves to take advantage of any opportunities which may present themselves given current market conditions.
Interim Dividend
F&C Commercial Property Trust Limited today announces its third interim dividend payment, in respect of the financial year ending 31 December 2008, of 1.0 pence per share as per the schedule below:
Ex-Dividend Date - 3 December 2008
Record Date - 5 December 2008
Pay Date - 31 December 2008
All Enquiries:
The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar Court
Les Banques
St Peter PortGuernsey
GY1 3QL
Tel: 01481 745338
Fax: 01481 745085