Sign In
19 Aug 2009 11:01
T2 Income Fund Limited
Announcement of Dividend
19 August 2009
On 17 July in its AGM statement, T2 Income Fund Ltd committed to making an announcement on dividend by the end of August. The Directors of the company today announce that on 25 September 2009 the Company will make a dividend payment to all shareholders on the company register as at 28 August 2009 of 0.5p per ordinary share in respect of the 3 month period to 30 June 2009.
In making a decision as to the appropriate level of the dividend, the Directors balanced the desire to return capital to shareholders with the cash needs of the business. For this reason the dividend level is less than the interest payment received for the second quarter. Nevertheless, in order for this dividend to be sustainable further interest payments from the company's CLO subsidiary will need to be received, and there remains no visibility as to the likelihood of such receipts. However, were there to be a greater certainty over the receipt of interest payments in future, it may be possible for a greater proportion of revenue to be distributed to shareholders.
- End -
For further information please contact:
Geoffrey Miller
T2 Income Fund Limited
+353 14433 466
Philip Secrett
Nominated Adviser
Grant Thornton UK LLP
+44 (0) 207 383 5100
Ed Gascoigne Pees
Financial Dynamics
+44 (0) 207 269 7132
Follow the stocks
