Invesco Select Share Discussion Threads

[brwo349] 21/4/2024 22:20

The following proposed changes are intended to improve the marketability of the Company.

New dividend policy

In recognition of the continuing importance of dividends to Shareholders, the Board intends to amend the current dividend policy of the Global Share Class, which consists of three equal interim dividends and a 'wrap-up' fourth interim dividend. The new policy will pay an annual dividend of at least 4 per cent. calculated on the unaudited year end NAV, paid quarterly in equal amounts. The intention would be that these dividends would be paid from the Company's revenues and, if required, capital reserves. The Board believes that this should provide both an enhanced dividend compared to current levels on the Global Share Class and, once the relevant NAV is known, a smoother, more predictable income to Shareholders.

The first enhanced dividend is expected to be declared in July 2024 and paid in August 2024.


6.2 Discount control policy

The Board also intends to introduce a discount control policy, whereby the Company would intend to use ad hoc share buybacks to seek to maintain the discount at less than 10 per cent., in normal market conditions.

6.3 Continuation vote

The Board intends to put forward a vote at the Company's Annual General Meeting in 2026 for the continuation of the Company (the 2026 Continuation Vote). If the 2026 Continuation Vote is passed the Board will put forward a continuation vote at the Company's annual general meeting in 2031 and, if passed, at each fifth annual general meeting thereafter.

[brwo349] 21/4/2024 22:18

This stock is going to get more interesting shortly with the other shares classes being merged into this. There will be £180M in assets so there should be much more liquidity with a smaller spread.