Investment Co. Regulatory News (INV)

9 April 2020

The Investment Company plc

("The Investment Company" or the "Company")

Interim Dividend Declaration and Update

Dividend Declaration

The Company announces that it has declared an interim dividend in respect of the financial year ending 30 June 2020 of 1.00 pence per ordinary share, payable on 29 May 2020 to ordinary shareholders on the register on 24 April 2020.  The ex-dividend date will be 23 April 2020.

Update

In light of the current Covid-19 situation and the impact it has had on global markets, the Board's priority is to ensure that, as far as possible, the Company's capital is preserved. As previously stated, the Board believes individuals' capital is scarce, and as such should be respected for its irreplaceability.

The dividend that has been declared today is being paid from income received prior to the emergence of the Covid-19 pandemic. However, since July 2018, a key objective of the Board has been to enable the income received by the Company to cover both its operating costs and the cost of dividends paid. Since the beginning of the current financial year, on 1 July 2019, the Company has paid out dividends of 7.5 pence per ordinary share and this, together with the 1 pence announced today, is covered by the Company's net income.

With uncertainty surrounding future dividend payments from companies in The Investment Company's portfolio and the decline in market prices, the Board is consulting regularly with the Investment Manager regarding anticipated income receipts and portfolio valuations with a view to determining the level of future dividends. A further update will be provided in due course.

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