LONDON STOCK EXCHANGE ANNOUNCEMENT
JPMORGAN ELECT PLC
DECLARATION OF DIVIDENDS
Legal Entity Identifier: 549300FIUYKKL39ILD07
Information disclosed in accordance with DTR 6.1.13
The Directors of JPMorgan Elect plc have declared the following dividends:
Managed Growth Shares
A quarterly interim dividend of 4.45 pence per Managed Growth share, for the fourth quarter of the year ending 31st August 2021, will be paid on 20th September 2021 to shareholders on the register at the close of business on 13th August 2021 (ex-dividend date 12th August 2021).
Managed Income Shares
A quarterly interim dividend of 1.45 pence per Managed Income share, for the fourth quarter of the year ending 31st August 2021, will be paid on 20th September 2021 to shareholders on the register at the close of business on 13th August 2021 (ex-dividend date 12th August 2021).
In determining the level of the fourth interim dividend payable by the Managed Income Class, the Board has taken into account the level of dividends received and to be received by the Company and the anticipated dividends for the coming financial year.
The objective of the Managed Income Class remains to provide a growing income return with the potential for long term capital growth. The Board will keep the level of dividends received, and expected to be received, from portfolio companies under review.
The dividend has not been fully covered by the income earned in the current financial year and therefore the Company has utilised the Managed Income Class revenue reserves which have built up over previous years to support this dividend. After payment of this fourth interim dividend, the Managed Income Class revenue reserve will equate to approximately three quarters of the full year dividend.
Managed Cash Shares
Historically, the Managed Cash share class has paid one dividend each financial year, in the fourth quarter. However, since the investment objective and policy of the Class was changed and the assets of the Class invested in the Sterling Managed Reserves Fund, the Company receives an annual dividend from that fund, in September. Therefore, to better align the date of receipt of the dividend from the Sterling Managed Reserves Fund with the shareholders on the Managed Cash register at that time, it was proposed that the declaration and payment date for the annual dividend is brought forward to earlier in the financial year.
As announced previously, the Board therefore decided to pay an interim dividend of 0.40 pence per Managed Cash share, for the second quarter of the year ending 31st August 2021. No further dividend will therefore be paid on this share class for the fourth quarter of the financial year ending 31st August 2021. In future years, it is expected that any dividend for this Class will be declared in the first quarter of the Company's financial year, which begins on 1st September.
5th August 2021
JPMorgan Funds Limited - Company Secretary
For further information:
Neil Martin 020 7742 4000
Client Director
Priyanka Vijay Anand 020 7742 4000
Company Secretary
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