REG - Aberdeen Stand.Euro. - Fourth Interim Dividend

abrdn European Logistics IncomeAnnouncement

24/02/2020 07:05

RNS Number : 8075D
  
Aberdeen Standard Eur Lgstc Inc PLC
  
24 February 2020
  
 

Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the "Company")
LEI: 213800I9IYIKKNRT3G50
 
24 February 2020
 
Declaration of Fourth Interim Dividend
 
The Directors have today declared a fourth interim dividend of 1.41 euro cents (equivalent to 1.27 pence) per Ordinary share, in respect of the year ended 31 December 2019. This fourth interim dividend will be paid in sterling on 27 March 2020 to Ordinary shareholders on the register on 6 March 2020 (ex-dividend date of 5 March 2020). The total dividend for 2019 amounts to 5.64 euro cents (equivalent to 5.08 pence) per Ordinary share.
 
As indicated in the Prospectus dated 5 July 2019, the Company is targeting a distribution level of 5% for an investor at initial 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 entered into an FX hedge to fix the exchange rate at which the euro distributions for the year ended 31 December 2019 were 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 fourth interim dividend declared of 1.27 pence per Ordinary share, 0.90 pence is declared as dividend income with 0.37 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
020 7463 6000
William Hemmings
Gary Jones
Luke Mason
 
Investec Bank plc
020 7597 4000
Sales
Will Barnett
Neil Brierley
Alice Douglas
Dominic Waters
Corporate
David Yovichic
Denis Flanagan


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
DIVSELFWFESSESE