Sign In
25 Feb 2016 07:01
25 February 2016
John Laing Infrastructure Fund Limited ("the Company" or "JLIF")
2015 Second Interim Dividend
The Board has declared an interim dividend covering the period 1 July 2015 to 31 December 2015.
Distribution period: | 1 July 2015 - 31 December 2015 |
Distribution amount per share: | 3.41 pence |
Ex-dividend date: | 3 March 2016 |
Dividend record date: | 4 March 2016 |
Last date to elect/revoke elections: | 27 April 2016 |
Payment date/Allotment of scrip: | 13 May 2016 |
Scrip Alternative in operation: | Yes |
The interim dividend of 3.41 pence represents a 1% increase on the most recent dividend paid by the Company in October 2015 of 3.375 pence and remains well ahead of the target dividend yield of 6% on the IPO issue price of 100 pence per ordinary share.
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 6 April 2016 to all eligible JLIF shareholders on the register as at the record date for the dividend, being 4 March 2016. The scrip dividend election forms will need to be completed and returned to Capita Registrars Limited by 27 April 2016 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
Andrew Charlesworth
Finsbury 020 7251 3801
Faeth Birch
Phillip Walters
Follow the stocks
