22 Jan 2016 07:00
Terra Capital Plc ('Terra' or 'the Fund')
Dividend Declaration
Terra Capital Plc ('TCA'), the AIM quoted investment trust focused on investing in value opportunities globally, primarily in frontier markets, is pleased to announce the dividend for financial year 2015 will be 3.24 cents per share ("2015 dividend"). Based on the closing sales midpoint of the Company's shares on 21 January 2016, this represents a dividend yield of 3.90%.
The Company's policy is to provide an annual dividend of at least 3.5% of the Company's unaudited Net Asset Value as at 31 December ("NAV"), which as at 31 December 2015 stood at US$0.925 per share. The 2015 dividend represents 82% of the value of the cash and stock dividends received from its investments during the financial year. To view the full Dividend Policy, please visit the Terra website.
The dividend will be paid on 29 February 2016 to ordinary shareholders on the register as at 5 February 2016 (the "Record Date"). The corresponding ex-dividend date will be 4 February 2016.
TCA's non-executive Chairman, Dirk Van den Broeck said, "A dividend yield of 3.90%, together with the trust's strong relative performance over the course of 2015 compared to the MSCI Frontier markets and Emerging Markets indices, sets Terra Capital apart. Despite a challenging trading environment, particularly in H2 2015, we are delivering on our objective to provide shareholders with exposure to global value opportunities, primarily in frontier markets, while minimising volatility and paying out meaningful dividends. This outperformance is thanks to the investment process our Fund Manager has put in place, which involves in-house analysts in four continents identifying under-researched value opportunities early; an in depth comprehensive screening process; robust financial analysis; and a focus on risk management."
**ENDS**
For more information, please visit www.terracapitalplc.com or contact:
Galileo Fund Services Limited (Administrator)
Suzanne Jones/ Ian Dungate
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate broker)
Paul Fincham or Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
St Brides Partners Ltd
Frank Buhagiar/ Elisabeth Cowell
+44 (0) 20 7236 1177
NOTES:
Terra Capital plc is an AIM quoted investment trust focussed on generating high absolute returns while ensuring volatility is kept to a minimum. The fund predominantly invests in under-researched and under-valued companies. The Fund Manager targets companies that are trading at less than their intrinsic worth and so, aside from any potential growth prospects, provide scope for capital appreciation as a result of a reversion towards underlying value. Investments are also made in companies which are viewed as fair value but offer opportunities for growth at a reasonable price. Due to inherent market inefficiencies, the Investment Manager believes many such 'value' opportunities can be found in Frontier Markets and utilises in-house teams of analysts on the ground in areas of interest to investigate suitable opportunities rather than rely on third party research.