First Interim Dividend

RNS Number : 8295P

Dunedin Income Growth Inv Tst PLC

12 June 2020

 

Dunedin Income Growth Investment Trust PLC

Legal Entity Identifier (LEI):  549300PPXLZPR5JTL763

12 June 2020

First Interim Dividend

The Board has today declared a first interim dividend in respect of the year ending 31 January 2021, of 3.0p per share, which will be payable on 28 August 2020 to shareholders on the register on 7 August 2020, with an ex-dividend date of 6 August 2020.

As has been widely reported, the impact of COVID-19 has seen a large number of companies suspending or cancelling their dividends, including some held within the Company's portfolio. There are many factors that will impact the speed with which those dividends will begin to resume, and at what rate, and that outlook is far from clear. It seems highly likely, therefore, that the Company's total dividends for the current year will not be covered by net revenue received.  As shareholders are aware, however, the Company had revenue reserves at 31 January 2020 equivalent to 10.94p per share accrued from excess net revenue earned in earlier years, representing 86% of the current annual dividend cost.  Future dividend decisions will be made based on the circumstances at the time, taking into account both dividend receipts and revenue reserves, but the Company's dividend policy remains to grow the dividend faster than the rate of inflation over the medium term. 

For further information, please contact:

G Hay Smith

Aberdeen Asset Management PLC

Secretaries

0131 372 2200

 

END

 

 

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