From: Investors Capital Trust plc
Date: 29 September 2016
Dividend and Capital Repayment
The Board of Investors Capital Trust plc announces a second quarter dividend of 1.17 pence per share on the A shares of the Company. This dividend will be paid on 4 November 2016 to A shareholders on the register on 7 October 2016. A second quarter capital repayment of 1.17 pence per share will be paid on the B shares of the Company on 4 November 2016 to B shareholders on the register on 7 October 2016. Capital repayments on B shares are paid at the same time and in an amount equal to each dividend paid on an A share.
This represents an increase of 2.6 per cent over the second quarter dividend / capital repayment paid in the prior year. As previously announced, in the absence of unforeseen circumstances, the Company intends to increase each of the remaining quarterly dividends for the year ending 31 March 2017 by a similar amount.
Based on these intended distributions, the dividend yield on an A share was 4.9 per cent based on the A share price of 96 pence as at 28 September 2016, and the distribution yield on a B share was 4.9 per cent based on the B share price of 97 pence on the same date. These yields compare favourably with the yield on the FTSE All-Share Index of 3.5 per cent at the same date. For those shareholders that hold units (each comprising three A shares and one B share) the distribution yield on this unit holding was 4.9 per cent based on a unit price of 385 pence as at 28 September 2016.
Rodger McNair, Fund Manager
F&C Investment Business Limited
Tel: 0207 628 8000
This information is provided by RNS