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Second Interim Dividend

Released 10:47 06-Sep-2019

RNS Number : 5071L
Aberdeen Standard Eur Lgstc Inc PLC
06 September 2019
 

Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the "Company")

LEI: 213800I9IYIKKNRT3G50

 

6 September 2019

 

Declaration of Second Interim Dividend

 

The Directors have today declared a second interim dividend of 1.41 euro cents (equivalent to 1.27 pence) per Ordinary share, in respect of the year ending 31 December 2019. This second interim dividend will be paid in sterling on 7 October 2019 to Ordinary shareholders on the register on 20 September 2019 (ex-dividend date of 19 September 2019).

 

As indicated in the Prospectus dated 5 July 2019, the Company is targeting a distribution level of 5% for an investor at launch in Euro terms. The Company's stated policy at launch was to engage, where appropriate, in currency hedging to seek to mitigate the potential volatility of income returns from the portfolio in sterling terms and to provide greater certainty as to the level of sterling distributions; but it does not seek to provide a long-term hedge for the Company's income returns, which will continue to be affected by movements in the euro/sterling exchange rate over the longer term, nor does it seek to undertake currency hedging in respect of the capital value of the portfolio. The Company has entered into an FX hedge to fix the exchange rate at which the euro distributions for the year ending 31 December 2019 will be converted to sterling to effect payments at a rate of €1:£0.8985.

 

The Company intends to declare quarterly interim dividends to Shareholders, with dividends declared in respect of the quarters ending on the following dates: 31 March, 30 June, 30 September and 31 December in each year.

 

Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investments trusts.

 

Of this second interim dividend declared of 1.27 pence per Ordinary share, 1.19 pence is declared as dividend income with 0.08 pence treated as qualifying interest income.

 

Details of the Company may be found on the Company's website at: www.eurologisticsincome.co.uk

 

For further information:

Aberdeen Standard Fund Managers Limited

0207 463 6000

William Hemmings

Gary Jones

Luke Mason

 

Investec Bank plc

0207 597 4000

Sales

Will Barnett

Neil Brierley

Alice Johnson

Dominic Waters

Corporate

David Yovichic

Denis Flanagan


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Second Interim Dividend - RNS