REG - Chenavari Toro IncFd - Dividend Declaration

Chenavari Toro Income FundAnnouncement

30/01/2024 07:15

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RNS Number : 2870B  Chenavari Toro Income Fund Limited  30 January 2024

Chenavari Toro Income Fund Limited (the Company)

30 January 2024

Dividend for the Quarter Ended 31 December 2023

The Company is pleased to announce payment of its quarterly dividend of 2.5%
(Euro 0.0162 per ordinary share) (the "Regular Quarterly Dividend") for the
period from 1 October 2023 to 31 December 2023.

Payment will be made on 7 March 2024 to holders of ordinary shares recorded on
the register as at close of business on 9 February 2024 with an ex-dividend
date of 8 February 2024.

Shareholders wishing to take the dividend in scrip, or to make a dividend
currency election, should note that the last date to make an election to join
the Scrip dividend scheme or make a currency election to be eligible for the
dividend paying on 7 March 2024 is 17:00 22 February 2024. The Scrip Reference
Price will be calculated and announced on or around 15 February 2024.

Dividend policy update

The Company continues to rebalance its portfolio towards tradable securities
and has been able to make attractive investments within the Public ABS and CLO
sector as opportunities arise within the market. To that effect, the Company
plans to remove the previously announced cap on maximum cash balance, so the
portfolio manager can have more flexibility to continue to re-invest based on
prevailing market conditions, with excess cash being reinvested.

In line with the current dividend policy the Company re-confirms its target
quarterly dividend yield of 2.5 per cent (by reference to NAV) equating to a
targeted annualised dividend yield of 10 per cent. (by reference to NAV). The
Company's net target return remains 9-11 per cent per annum.

 

The dividend and net return targets stated above are targets only and are not
a profit forecast. There can be no assurance that these targets will be met
and they should not be taken as an indication of the Company's expected future
results.

 

Further information in relation to the Company is available at:

http://www.chenavaritoroincomefund.com
(http://www.chenavaritoroincomefund.com)

 

 

 

Enquiries:

 

Guy Goyard

 

Chenavari Investment Managers

 

Email: tlir@chenavari.com (mailto:tlir@chenavari.com)

 

Telephone: +44 20 7259 3600

 

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