Dividend and Capital Repayment

To: RNS

From: BMO UK High Income Trust PLC

Date: 27 June 2022

LEI: 213800B7D5D7RVZZPV45

Dividend and Capital Repayment

The Board of BMO UK High Income Trust PLC announces a first quarter dividend in respect of the financial year to 31 March 2023 of 1.32 pence per Ordinary share. This dividend will be paid on 5 August 2022 to Ordinary shareholders on the register on 8 July 2022, with an ex-dividend date of 7 July 2022. 

A first quarter capital repayment of 1.32 pence per B share will be paid on 5 August 2022 to B shareholders on the register on 8 July 2022, with an ex-dividend date of 7 July 2022. Capital repayments on B shares are paid at the same time and in an amount equal to each dividend paid on an Ordinary share.

This represents an unchanged dividend / capital repayment from the third quarter of the prior financial year to 31 March 2022.

The normal pattern for the Company is to pay four quarterly interim distributions per financial year.

At this stage and in the absence of unforeseen circumstances, the Company currently intends that the second and third quarter distributions will each be 1.32 pence per share and that the aggregate distribution for the financial year to 31 March 2023 will be at least 5.45 pence per share (Financial year to 31 March 2022: 5.45 pence per share).

Based on these intended distributions, the dividend yield on an Ordinary share was 6.4 per cent based on the Ordinary share price of 85.5 pence as at 24 June 2022, and the distribution yield on a B share was 6.3 per cent based on the B share price of 86.5 pence on the same date. These yields compare favourably with the yield on the FTSE All-Share Index of 3.5 per cent at the same date. For those shareholders that hold units (each comprising three Ordinary shares and one B share) the distribution yield on this unit holding was 6.4 per cent based on a unit price of 338 pence as at 24 June 2022.

Enquiries:

Philip Webster, Fund Manager

BMO Investment Business Limited

Tel: 0207 628 8000