Dividend Declaration

RNS Number : 3460U

Henderson Diversified Income Ltd

13 May 2008

 



HENDERSON DIVERSIFIED INCOME LIMITED

HENDERSON GLOBAL INVESTORS

13 MAY 2008

HENDERSON DIVERSIFIED INCOME LIMITED

Third Interim Dividend and Dividend Policy

The directors have declared a third interim dividend of 3.4p in respect of the year ending 31 October 2008 which is payable on 20 June 2008 to shareholders on the register on 23 May 2008. The ex-dividend date is 21 May 2008.

In declaring this dividend, the Board is mindful of its announcement on 2 May 2008 that it is contemplating a placing of new shares in the company. The Board anticipates that this placing will be completed by the end of May 2008. Accordingly, the third interim dividend of 3.4p being declared today not only includes the income earned in respect of the three months ended 30 April 2008 but also an amount to cover the distributable income forecast to be earned by the company during May 2008, thereby ensuring that the level of distributable income available to existing shareholders will be unaffected by the placing of new shares. 

Consequently, the fourth and fifth interim dividends will only include income earned in the five month period to the end of the financial year on 31 October 2008. The Company's performance target is three month LIBOR plus 1.25% which at the time of launch and at the current date equates to annualised dividends of around 7.0p per ordinary share and therefore a total of 8.75p per ordinary share for the initial fifteen month period to 31 October 2008. Including the dividend declared today, the Company has declared dividends totalling 6.65p covering the first ten months of the fifteen month first financial period ending 31 October 2008. 

In regard to the final five months of the financial year ended 31 October 2008, the Board reiterates its objective of achieving distributable income of not less than LIBOR plus 1.25%. In the absence of a material fall in LIBOR, the Board therefore intends to pay a fourth interim dividend covering the income earned in respect of the two months ended 31 July 2008 of not less than 1.0p on 30 September 2008 and a fifth interim dividend covering the income earned in respect of the three months ended 31October 2008 of not less than 1.5p on 31 December 2008 making a total of not less than 9.15p for the fifteen months ending 31 October 2008. 

- ENDS -

For further information please contact:

Jeremy Hamon, Company Secretary, BNP Paribas Fund Services Jersey Limited

Tel: [phone]

John Pattullo, Fund Manager, Henderson Diversified Income Limited

Tel: [phone]

 

END

 

 

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