26 Aug 2020 10:02
Jupiter Emerging & Frontier Income Trust PLC (the 'Company')
Legal Entity Identifier: 213800RLXLM87NO26S30
Dividend Declaration
The Board of Directors of the Company has today declared the payment of a third interim dividend of 1.00p per ordinary share in respect of the financial year ending 30 September 2020 ('FY2020').
The dividend will be paid on 25 September 2020, to shareholders on the register as at 4 September 2020. The ex-dividend date is 3 September 2020.
Forward looking dividend guidance*
The Board recognises the importance of the Company's dividend to shareholders and expects to declare a fourth interim dividend of 1.00p in November 2020 in respect of the final quarter of FY2020, which would bring the total dividend declared in respect of FY2020 to 4.40p per ordinary share (FY2019: 4.60p per ordinary share). The fourth interim dividend is expected to be partly funded out of revenue reserves.
Notwithstanding the uncertain global economic climate, the Board expects to declare a total dividend for the financial year ending 30 September 2021 ('FY2021') of at least 4.00p per ordinary share and may use accumulated revenue reserves to meet this goal. Although the level of dividend income paid by the Company's portfolio has fallen in recent months as a result of the Covid-19 pandemic, the Investment Adviser expects income to recover during FY2021 as a number of companies that have cancelled or deferred dividend payments over the last six months are expected to resume paying dividends.
* These are guidance levels or targets only and not a profit forecast and there can be no assurance that they will be met.
For further information, please contact:
Magnus Spence
Head of Investment Trusts and Alternatives
Jupiter Asset Management Limited, Company Secretary
020 3817 1325
26 August 2020
www.jupiteram.com/JEFI