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20 Oct 2021 13:00
Maven Income and Growth VCT 5 PLC
Declaration of Second Interim Dividend
The Directors of Maven Income and Growth VCT 5 PLC (the Company) are pleased to announce that, following a number of recent profitable realisations and to ensure that the Company will continue to comply with the VCT regulations at all times, they consider it appropriate to declare a further interim dividend in respect of the year ending 30 November 2021, of 0.50p per Ordinary Share, to be paid on 26 November 2021 to Shareholders on the register at close of business on 29 October 2021.
As Shareholders will be aware from recent Annual and Interim Reports, decisions on distributions take into consideration a number of factors, including the availability of surplus revenue, the realisation of capital gains, the adequacy of distributable reserves and the VCT qualifying level. These factors are all kept under close and regular review by the Board and the Manager, who recognise the importance of tax-free distributions to Shareholders and remain committed to a programme of progressive dividends.
Since the Company's launch, and after receipt of this latest interim dividend, 45.65p per share will have been distributed in tax-free dividends. It should be noted that the effect of paying dividends is to reduce the NAV of the Company by the total cost of the distribution.
Dividend Investment Scheme
The Company has in place a Dividend Investment Scheme (DIS), through which Shareholders may elect to have their dividend payments used to apply for new Ordinary Shares issued by the Company under the standing authority requested from Shareholders at Annual General Meetings. Shares issued under the DIS should qualify for VCT tax reliefs applicable for the tax year in which they are allotted. Terms & conditions of the scheme, together with a mandate form, are available from the Company's website at: www.mavencp.com/migvct5.
Shareholders who have not previously applied to participate in the DIS, and who wish to do so in respect of the dividend payable on 26 November 2021, should ensure that a mandate form, or CREST instruction if appropriate, is received by the Company's new Registrars (appointed with effect from 25 October 2021), The City Partnership (UK) Limited, prior to the dividend election date of 12 November 2021.
Issued on behalf of the Board
Maven Capital Partners UK LLP
Secretary
20 October 2021
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