Dividend Declaration Q3 2019-20

RNS Number : 1131O

UIL Limited

27 May 2020

 

27 May 2020

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

Third quarter dividend declaration

The Board of UIL Limited has declared a third quarterly interim dividend of 2.00p per ordinary share in respect of the year ending 30 June 2020, which will be paid on 26 June 2020 to shareholders on the register on 5 June 2020. The ordinary shares will go ex-dividend on 4 June 2020.

The Board is aware of the importance of dividends to shareholders particularly during times of such severe market stress and has maintained the dividend at the rate paid in the previous quarter. While there will likely be an impact on UIL's revenue earnings as a result of the effect of the COVID-19 pandemic on a number of its portfolio companies, UIL has built up significant revenue reserves over many years.  As disclosed in UIL's half yearly report to 31 December 2019, UIL's revenue reserves amounted to £9.5m as at that date.  While there can be no guarantee regarding future dividends, the Board's current intention is that interim dividends will continue to be paid quarterly, subject to cash levels being sufficient and the Company being legally entitled to do so, and that revenue reserves will be utilised if there is a shortfall in earnings. 

Name of contact and telephone number for enquiries:

Charles Jillings, Alastair Moreton

ICM Investment Management Limited

Telephone: [phone]

 

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