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Dividend Declaration

Released 16:31 10-Aug-2017

RNS Number : 7084N
Maven Income and Growth VCT 3 PLC
10 August 2017
 

Maven Income and Growth VCT 3 PLC

 

Declaration of Interim Dividend

 

As highlighted by the Board in the Annual Report for the year ended 30 November 2016, Shareholders should be aware that less predictable capital gains and income flows could result in the quantum and timing of future dividend payments being subject to fluctuation. Due to a combination of circumstances, including a number of recent profitable realisations and the requirement to ensure that the Company will continue to comply with the VCT regulations at all times, in addition to the interim dividend paid on 14 July 2017, the Board has considered it appropriate to declare the payment of a further interim dividend.

 

Therefore, the Directors now declare that a second interim dividend of 5.14p per Ordinary Share in respect of the year ending 30 November 2017 is to be paid on 15 September 2017 to Shareholders on the register at close of business on 18 August 2017.

 

Dividend Investment Scheme

 

The Directors have also resolved to re-introduce the Dividend Investment Scheme (DIS), which was suspended on 24 August 2015 due to the restrictions imposed by the Government's summer 2015 Budget. Now that there is more clarity regarding the investment criteria that apply to VCTs, and with the Company having stated its intention to launch an Offer for Subscription, the DIS has been reinstated with immediate effect.

This means that, unless they advise the Company otherwise, those Shareholders who had previously elected to participate in the DIS will revert to receiving new shares with effect from 15 September 2017, being the payment date of the second interim dividend. Shares issued under the DIS should qualify for VCT tax reliefs applicable for the tax year in which they are allotted. Terms & conditions of the scheme, together with a mandate form, are available from the Company's website. Shareholders who had not previously applied to participate in the DIS and who now wish to do so, should ensure that a mandate form, or CREST instruction if appropriate, is submitted prior to the dividend election date of 1 September 2017.

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Company Secretary

10 August 2017

 


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Dividend Declaration - RNS