Maven Income and Growth VCT 5 PLC Dividend Declaration (7059C)
14 Giugno 2023 - 11:33AM
UK Regulatory
TIDMMIG5
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)
T he 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 .
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 .
Issued on behalf of the Board
Maven Capital Partners UK LLP
Company Secretary
14 June 2023
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END
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