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From: BMO UK High Income Trust PLC
Date: 28 November 2018
Dividend and Capital Repayment
The Board of BMO UK High Income Trust PLC announces a third quarter dividend of 1.25 pence per share on the Ordinary shares of the Company. This dividend will be paid on 1 February 2019 to Ordinary shareholders on the register on 4 January 2019.
A third quarter capital repayment of 1.25 pence per share will be paid on the B shares of the Company on 1 February 2019 to B shareholders on the register on 4 January 2019. Capital repayments on B shares are paid at the same time and in an amount equal to each dividend paid on an Ordinary share.
This represents an increase of 3.3 per cent over the third quarter dividend / capital repayment paid in the prior year. As previously announced, in the absence of unforeseen circumstances, the Company also intends to increase the remaining quarterly dividend for the year ending 31 March 2019 by a similar amount.
Based on these intended distributions, the dividend yield on an Ordinary share was 5.5 per cent based on the Ordinary share price of 91.50 pence as at 27 November 2018, and the distribution yield on a B share was 5.5 per cent based on the B share price of 91.50 pence on the same date. These yields compare favourably with the yield on the FTSE All-Share Index of 4.1 per cent at the same date. For those shareholders that hold units (each comprising three Ordinary shares and one B share) the distribution yield on this unit holding was 5.6 per cent based on a unit price of 363 pence as at 27 November 2018.
Philip Webster, Fund Manager
BMO Investment Business Limited
Tel: 0207 628 8000
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