Maven Income 1 Regulatory News (MIG1)

24 Jan 2007 16:19

Murray VCT 4 PLC24 January 2007 MURRAY VCT 4 PLC ("the Company") Dividend Declaration Following the payment by the Company of capital dividends of 1.6p and 3.0p on 28July and 15 December 2006 respectively, the Directors are pleased to declarethat a further special capital dividend of 4.0p per Ordinary Share will be paidon 23 March 2007. This will be paid tax-free to Shareholders on the register atclose of business on 2 March 2007, bringing total capital dividends paid in theyear to date to 8.6p per share. In the light of the full year results to 28February 2007, a further distribution will be considered for payment in July2007. These capital dividends are paid from a distributable reserve which is fundedthrough realised capital gains that have been generated by the sale ofinvestments from the Company's portfolio. The distribution of these gains is atthe discretion of the Directors and, in the Annual Report for the year ended 28February 2006, the Board intimated its intention for the Company to distributerealised capital gains by way of dividends whenever meaningful amounts had beenaccumulated. There have been a large number of profitable sales in recent months which havecreated significant distributable reserves. Whilst the Board is pleased withrecent performance, it is not expected that such a pattern of realisations canbe repeated in the near future. The Board now wishes to balance the desire topay out capital dividends whenever possible against the need to make further newinvestments, and provide support to existing investments, in order to continuethe recent improvement in total return. Further profitable disposals ofsuccessful investments should ensure a continuing stream of tax-free dividendsin the future. This dividend should, therefore, be regarded by Shareholders as a specialdistribution. By order of the BoardMurray Johnstone Limited, Secretary24 January 2007 This information is provided by RNS The company news service from the London Stock Exchange