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15 Mar 2012 07:00
15 March 2012
John Laing Infrastructure Fund Limited ("the Company" or "JLIF")
2011 Second Half Dividend
The Board today declared an interim dividend covering the period 1 July 2011 to 31 December 2011.
Distribution period: | 1 July 2011 - 31 December 2011 |
Distribution amount per share: | 3.0 pence |
Ex-dividend date: | 21 March 2012 |
Dividend record date: | 23 March 2012 |
Last date to elect/revoke elections: | 25 April 2012 |
Payment date/Allotment of scrip: | 11 May 2012 |
Scrip Alternative in operation: | Yes |
The interim dividend of 3.0 pence is in line with the target dividend payment of 6.0 per cent. per annum on the launch price of 100 pence per ordinary share as set out in the Company's prospectus dated 28 September 2011 (the "Prospectus").
The Directors intend that the Company will generally restrict distributions (by way of dividend or otherwise) to the level of distributable cash flows, and dividends to the level of income from the Fund's investments, as recognised in the relevant financial period. Any such dividend or distribution shall be made conditional on the passing of the solvency test under Guernsey law.
Distributions on the shares are expected to be paid twice a year, normally in respect of the six month period to 30 June and 31 December respectively, and are expected to be made by way of interim dividends. The first half of the 2012 dividend which is targeted to be a minimum of 3.0 pence per share is expected to be paid in October 2012.
The Board intends to offer a scrip dividend alternative for this distribution to those investors who wish to receive additional JLIF securities in lieu of a cash payment. A circular will be sent to shareholders explaining the terms of the scrip dividend alternative. It is intended that the circular together with scrip dividend election forms will be mailed on or about 3 April 2012 to all eligible JLIF shareholders on the register as at the record date for the dividend, being 23 March 2012. The scrip dividend election forms will need to be completed and returned to Capita Registrars Limited by 25 April 2012 by those investors who wish to receive shares in lieu of cash other than those shareholders who have previously given a Scrip Dividend Mandate to the Company.
Note: The above distribution guidance is a target only and not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever. The times and dates in this announcement are expected times and dates only and are subject to change. Any such changes will be notified to shareholders through a regulatory information service.
For further information, please contact:
John Laing Capital Management Limited 020 7901 3326
David Marshall
Andrew Charlesworth
RLM Finsbury 020 7251 3801
Faeth Birch
Phillip Walters
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