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27 Aug 2014 07:00
27 August 2014
John Laing Infrastructure Fund Limited ("the Company" or "JLIF")
2014 Interim Dividend
The Board has declared an interim dividend covering the period 1 January 2014 to 30 June 2014.
Distribution period: | 1 January 2014 - 30 June 2014 |
Distribution amount per share: | 3.25 pence |
Ex-dividend date: | 3 September 2014 |
Dividend record date: | 5 September 2014 |
Last date to elect/revoke elections: | 6 October 2014 |
Payment date/Allotment of scrip: | 20 October 2014 |
Scrip Alternative in operation: | Yes |
The interim dividend of 3.25 pence is the same as the previous dividend announced in March 2014 and takes the total for the last 12 months to 6.5 pence. This exceeds the target dividend payment of 6.0 pence per ordinary share as set out in the Company's Prospectus dated September 2013.
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 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 16 September 2014 to all eligible JLIF shareholders on the register as at the record date for the dividend, being 5 September 2014. The scrip dividend election forms will need to be completed and returned to Capita Registrars Limited by 6 October 2014 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 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
Finsbury 020 7251 3801
Faeth Birch
Phillip Walters
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