Ecofin Global Utilities Inf Tst PLC Quarterly Dividend (8819L)

TIDMEGL

RNS Number : 8819L

Ecofin Global Utilities Inf Tst PLC

06 October 2016

6 October 2016

Ecofin Global Utilities and Infrastructure Trust plc

Quarterly Dividend

In the prospectus published by Ecofin Global Utilities and Infrastructure Trust plc (the "Company") on 6 July 2016 (the "Prospectus"), the Board stated that the Company would target an initial dividend yield of at least 4 per cent. on net assets.

In line with the dividend policy, the Board has resolved to target quarterly dividend payments of 1.6 pence per share for the period to 30 September 2017, which is equivalent to an annualised yield of 4.55 per cent. on an NAV of 140.63 pence per share as at 23 September 2016, the Company's opening NAV. The Board will review the quarterly dividend payments for the year commencing 1 October 2017 with a view to having a progressive dividend policy.

In accordance with the Board's intention set out in the Prospectus, the Company has applied to court to cancel the entirety of its share premium account with the resultant reserve being available to support dividends, where the Board considers it appropriate. The court date has been set for mid-November 2016 and as such the Company expects to declare its maiden dividend in mid-November with the dividend being paid in early December. Following the payment of the maiden dividend, dividends will be payable on the last business day of February, May, August and November. A dividend payment schedule is set out below:

 
 Three month period   Dividend per   Payment date 
  to:                  share 
-------------------  -------------  ----------------- 
 30 September         1.6 pence      Early December 
  2016                                2016 
-------------------  -------------  ----------------- 
 31 December 2016     1.6 pence      28 February 2017 
-------------------  -------------  ----------------- 
 31 March 2017        1.6 pence      31 May 2017 
-------------------  -------------  ----------------- 
 30 June 2017         1.6 pence      31 August 2017 
-------------------  -------------  ----------------- 
 30 September         1.6 pence      30 November 2017 
  2017 
-------------------  -------------  ----------------- 
 

For further information, please contact:

 
 BNP Paribas Secretarial Services 
  Limited 
  Susan Gledhill, Company Secretary    020 7410 5971 
 Winterflood Investment Trusts 
  Joe Winkley 
  Neil Langford                        020 3100 0000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DIVUGGMGUUPQUBQ

(END) Dow Jones Newswires

October 06, 2016 05:19 ET (09:19 GMT)