Dividend Declaration

Law Debenture Corp PLC

24 May 2023

 

The Law Debenture Corporation p.l.c.

First Interim Dividend Announcement

·   Declaring a first interim dividend of 7.625 pence per ordinary share payable in July 2023, representing an increase of 5.2% over the prior year's first interim dividend.

·     It is the Board's intention for each of the first three interim dividends for 2023 to be equivalent to a quarter of Law Debenture's total 2022 dividend of 30.50 pence per ordinary share.

The combination of IPS' steady income and our strong reserves allows Law Debenture to continue executing its 45-year track record of maintaining or increasing its dividend payments.  

This dividend will be paid on 6 July 2023 to shareholders on the register at close of business on 2 June 2023. The Corporation's shares will go ex-dividend on 1 June 2023. 

Law Debenture Corporate Services Limited

Corporate Secretary

24 May 2023

Contact:  

Tulchan Communications                                          

David Allchurch, Guy Bates

[e-mail]

[phone]

Notes to Editor

Law Debenture's equity portfolio of investments is managed by James Henderson and Laura Foll of Janus Henderson Investors.

Our objective is to achieve long-term capital growth in real terms and steadily increasing income.  The aim is to achieve a higher rate of total return than the FTSE Actuaries All-Share Index Total Return through investing in a diversified portfolio of stocks.

In the last ten years Law Debenture has increased its dividend by more than 100% and outperformed its benchmark, the FTSE Actuaries All-Share Index, by 73%¹.

Our leading independent professional services business accounts for c.21% of Law Debenture's NAV but has funded 34% of dividends over the past decade. As a result, our Investment Managers' have the flexibility of selecting strong business models and attractive valuation opportunities, which will continue to position the equity portfolio for future longer-term growth and outperformance.

The Law Debenture Corporation p.l.c. is registered in England, company registration number 00030397. LEI number - 2138006E39QX7XV6PP21

¹ Source: Law Debenture's Annual Financial Report for the period ended 31 December 2022.

 

END