REG - Maven Inc&Grwth 5 - Dividend Declaration

Maven Income and Growth VCT 5Announcement

14/06/2023 10:45

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RNS Number : 7059C  Maven Income and Growth VCT 5 PLC  14 June 2023

 

Maven Income and Growth VCT 5 PLC

 

 

Interim Dividend

 

The Board is pleased to declare that an interim dividend in respect of the
year ending 30 November 2023, of 0.75p per Ordinary Share, will be paid on 21
July 2023 to Shareholders on the register at close of business on 23 June
2023. Since the Company's launch, and after receipt of this latest interim
dividend, 50.90p per share will have been distributed in tax-free dividends.
It should be noted that the effect of paying dividends is to reduce the NAV of
the Company by the total cost of the distribution.

 

As Shareholders will be aware from recent Annual and Interim Reports,
decisions on distributions take into consideration a number of factors,
including the availability of surplus revenue, the realisation of capital
gains, the adequacy of distributable reserves and the VCT qualifying level.
The Board and the Manager recognise the importance of tax-free distributions
to Shareholders and, subject to the conditions set out above, will seek, as a
guide, to pay an annual dividend that represents 5% of the NAV per share at
the preceding year end.

 

Dividend Investment Scheme (DIS)

The Company has in place a DIS through which Shareholders may elect to have
their dividend payments used to subscribe for new Ordinary Shares issued by
the Company under the standing authority requested from Shareholders at Annual
General Meetings. Shares issued under the DIS should qualify for VCT tax
reliefs applicable for the tax year in which they are allotted, subject to an
individual Shareholder's particular circumstances. Terms & conditions of
the scheme, together with a mandate form, are available from the Company's
webpages at: mavencp.com/migvct5 (http://www.mavencp.com/migvct5) .

Shareholders who have not previously applied to participate in the DIS and who
wish to do so in respect of the interim dividend payable on 21 July 2023,
should ensure that a mandate form is received by the Company's Registrar, The
City Partnership (UK) Limited, prior to the dividend election date of 7 July
2023.  Election to participate in the DIS can also be made through the
Registrar's online investor hub at maven-cp.cityhub.uk.com
(https://maven-cp.cityhub.uk.com) .

 

 

Issued on behalf of the Board

Maven Capital Partners UK LLP

Company Secretary

 

14 June 2023

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