New dividend policy and change of name

RNS Number : 9634B

JPMorgan Chinese Inv Tst PLC

04 February 2020

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN CHINA GROWTH & INCOME PLC

(formerly JPMorgan Chinese Investment Trust plc) (the "Company")

NEW DIVIDEND POLICY AND CHANGE OF NAME

Legal Entity Identifier (LEI): 549300S8M91P5FYONY25

New Dividend Policy

On the 4 December 2019, the Company announced a proposal to enhance dividends paid to shareholders through the distribution of capital gains as well as net revenue. Under this new policy, the Board will aim to set a target dividend, in the absence of unforeseen circumstances, equivalent to 4 per cent. of the Company's NAV on the last business day of the preceding financial year.  The target dividend will be announced at the start of each financial year, to provide clarity to shareholders over the income stream they can expect during the following 12 months, and will be paid by way of four equal interim dividends on the first business day in March, June, September, and December. The proposal was subject to shareholder approval to amend the Company's Articles of Association to permit the distribution of capital returns.

At the Company's AGM, on 3 February 2020, shareholders approved the special resolution to allow the Company to amend its Articles of Association and put in place the new dividend policy.

Accordingly, the Company will implement the revised dividend policy with effect from 1 April 2020. Two quarterly distributions for the six-month period to 30 September 2020 will be paid on 1 June 2020 and 1 September 2020 based on the Company's NAV at close of business on 31 March 2020.

Change of Name

In light of the new dividend policy, the Board is pleased to announce that the Company has changed its name to JPMorgan China Growth & Income plc and, with effect from 8.00 a.m. on 5 February 2020, the Company's London Stock Exchange mnemonic (TIDM) will change to JCGI (previously JMC). The Company's ISIN and SEDOL remain unchanged.

The Company's website address will shortly be amended to www.jpmchinagrowthandincome.co.uk 

For further information, please contact:

Lucy Dina

For and on behalf of

JPMorgan Funds Limited, Secretary

020 7742 4000

4 February 2020

 

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