Last checked at 16 Jun 2015 07:00
Jarvis Securities plc
(Jarvis" or "the Company")
Dividend Declaration
The Board of Jarvis is pleased to announce that it is declaring a special interim dividend of 10 pence per share, to be paid on 16 July 2015 to shareholders on the register on 26 June 2015 and the shares will become ex-dividend on 25 June 2015.
This dividend is in addition to the usual quarterly dividends. There will be two further interim quarterly dividends in 2015 as per the timetable published on the Jarvis website.
Jarvis has a stated dividend policy of paying approximately 2/3 of profit after tax in dividends. The purpose of retaining 1/3 of profit after tax is to ensure that the business has sufficient liquid regulatory capital, to allow for investment within the business, and to provide management with funds for acquisitions should any opportunities present themselves.
Having considered all requirements for retaining cash within the business, including the capital requirements of its regulated subsidiary, the Board have concluded that after paying this additional dividend the firm retains sufficient reserves to meet all its objectives. The Board wish to emphasise that this dividend should be viewed by shareholders as an exceptional payment, and there is currently no intention to deviate from the stated dividend policy. However should the same circumstances arise in the future further special dividends will be given consideration.
Jarvis will publish half year results on 23 July 2015. Trading remains in line with published broker forecasts.
Dividend Reinvestment Plan
A Dividend Reinvestment Plan is being offered and the final date for elections for reinvestment of the special interim dividend is 2 July 2015. Any shareholder requiring further information should contact the Company.
ENDS
Enquiries:
Jarvis Securities plc 01892 510 515
Andrew Grant
Jolyon Head
WH Ireland Limited 0113 394 6600
Andrew Kitchingman
Liam Gribben
Notes:
Jarvis Securities plc is the holding company for Jarvis Investment Management Limited (AIM: JIM.L) a stock broking company and outsourced service provider for bespoke tailored financial administration. Jarvis was established in 1984 and is a member of the London Stock Exchange; a broker dealer member of ISDX Markets, authorised and regulated by the Financial Conduct Authority and an HM Revenue & Customs approved ISA manager. As well as normal retail broking Jarvis provides cost effective and flexible share trading facilities within ISA and SIPP wrappers.
Jarvis provides outsourced and partnered financial administration services to a number of third party organisations. These organisations include advisers, stockbrokers, banks and fund managers. Jarvis can tailor its administration processes to the requirements of each organisation and has a strong reputation for flexibility and cost-effectiveness.