Dividend Declaration

Chenavari Toro Income Fund Limited

30 January 2024

 

Chenavari Toro Income Fund Limited (the Company)

30 January 2024

Dividend for the Quarter Ended 31 December 2023

The Company is pleased to announce payment of its quarterly dividend of 2.5% (Euro 0.0162 per ordinary share) (the "Regular Quarterly Dividend") for the period from 1 October 2023 to 31 December 2023.

Payment will be made on 7 March 2024 to holders of ordinary shares recorded on the register as at close of business on 9 February 2024 with an ex-dividend date of 8 February 2024.

Shareholders wishing to take the dividend in scrip, or to make a dividend currency election, should note that the last date to make an election to join the Scrip dividend scheme or make a currency election to be eligible for the dividend paying on 7 March 2024 is 17:00 22 February 2024. The Scrip Reference Price will be calculated and announced on or around 15 February 2024.

Dividend policy update

The Company continues to rebalance its portfolio towards tradable securities and has been able to make attractive investments within the Public ABS and CLO sector as opportunities arise within the market. To that effect, the Company plans to remove the previously announced cap on maximum cash balance, so the portfolio manager can have more flexibility to continue to re-invest based on prevailing market conditions, with excess cash being reinvested.

In line with the current dividend policy the Company re-confirms its target quarterly dividend yield of 2.5 per cent (by reference to NAV) equating to a targeted annualised dividend yield of 10 per cent. (by reference to NAV). The Company's net target return remains 9-11 per cent per annum.

The dividend and net return targets stated above are targets only and are not a profit forecast. There can be no assurance that these targets will be met and they should not be taken as an indication of the Company's expected future results.

Further information in relation to the Company is available at:

http://www.chenavaritoroincomefund.com

Enquiries:

Guy Goyard

Chenavari Investment Managers

Email: [e-mail]

Telephone: [phone]

 

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