5 Dec 2019 08:20
For release on 5 December 2019
TOC PROPERTY BACKED LENDING TRUST PLC
Dividend Declaration
The Board of Directors (the "Board") of TOC Property Backed Lending Trust (the "Company" or "PBLT") has declared an interim dividend of 1.50 pence per Ordinary Share in respect of the period from 1 September 2019 to 30 November 2019.
Distribution period: | 1 September 2019 - 30 November 2019 |
Distribution amount per share: | 1.50 pence |
Ex-dividend date: | 12 December 2019 |
Dividend record date: | 13 December 2019 |
Payment date: | 3 January 2020 |
Despite ongoing challenges within the property market and wider political uncertainties, the Board have agreed to continue the recent dividend policy and pay an interim dividend of 1.50 pence per ordinary share.
In the absence of unforeseen circumstances, the Company expects the fourth interim dividend to be at least 1.50 pence per share and paid in April 2020.
The above dividend target is a target only and not a profit forecast. There can be no assurance that the target can or will be met and this should not be taken as an indication of the Company's expected or future profitability.
For further information regarding the Company (Ticker: PBLT) (LEI: 213800EXPWANYN3NEV68) please call:
Tier One Capital Ltd (Investment Adviser) Ian McElroy | +44 (0) 191 222 0099 |
finnCap Ltd (Sponsor, Broker and Financial Adviser) William Marle / Grant Bergman | +44 (0) 207 220 0500
|
Maitland Administration Services (Scotland) Limited (Secretary)
| +44 (0) 1245 398 984 |
Notes to Editors:
TOC Property Backed Lending Trust PLC is a closed-end investment company. Its investment objective is to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term while managing downside risk through: (i) a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the UK; and (ii) in many cases, receiving the benefit of an associated profit share usually obtained by acquiring (at nil cost) a minority equity stake in the relevant borrower project development vehicle.
Tier One Capital is a Newcastle upon Tyne headquartered wealth management company and the appointed investment adviser to the TOC Property Backed Lending Trust PLC. Tier One Capital has offices in Newcastle, London and Switzerland, and specialises in providing wealth management advice to high net worth individuals, corporates and charities.