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4 Nov 2010 08:40
The Income & Growth VCT plc (the "Company")
4 November 2010
Interim and final dividends
The Board of The Income & Growth VCT plc is pleased to announce that the Company will pay on 22 February 2011 an interim capital dividend of 2.00 pence per share for the year ended 30 September 2010 to Shareholders on the Register on 28 January 2011.
Following this payment, cumulative dividends paid to Shareholders (who were formerly `S' Fund Shareholders) will rise to 2.5 pence per share.
This is in addition to the 22.45 pence distributed to former `O' Fund Shareholders since launch, but prior to the merger of the two share classes earlier this year.
It is also the Board's intention to propose a final dividend in respect of the year ended 30 September 2010 at a similar level of 2.00 pence per share. If this dividend is approved, it is planned to make the payment on 28 March 2011 to shareholders on the Register on 4 March 2011.
The Directors intend that the Company's Dividend Investment Scheme will apply to both of these dividends in which case, elections under the Scheme should be received by the Scheme Administrator, Capita Registrars, no later than Monday, 7 February 2011 in the case of the interim dividend and Monday, 14 March 2011 in the case of the final dividend. However, the operation of the Scheme will be dependent upon the Company receiving approval from the FSA in respect of its proposed joint Share Offer with Matrix Income & Growth VCT plc and Matrix Income & Growth 4 VCT plc. If the Company is unable to obtain FSA approval, the Dividend Investment Scheme will be suspended in respect of these dividends, and shareholders will receive their dividends as cash.
The dividends are tax free for qualifying shareholders.
For further information please contact:
Sarah Penfold at Matrix Private Equity Partners LLP, the Company Secretary on
020 3206 7000
THE INCOME & GROWTH VCT PLC
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