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TOC Prop BackLendTst (PBLT)

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Friday 30 August, 2019

TOC Prop BackLendTst

Dividend Declaration

RNS Number : 6288K
TOC Property Backed Lendng Tst PLC
30 August 2019
 

For release on 30 August 2019

 

TOC PROPERTY BACKED LENDING TRUST PLC

Dividend Declaration

 

The Board of Directors (the "Board") of TOC Property Backed Lending Trust (the "Company" or "PBLT") has declared an interim dividend of 1.50 pence per Ordinary Share in respect of the period from 1 June 2019 to 31 August 2019.

 

Distribution period:

1 June 2019 - 31 August 2019

Distribution amount per share:

1.50 pence

Ex-dividend date:

12 September 2019

Dividend record date:

13 September 2019

Payment date:

4 October  2019

 

 

Despite ongoing challenges within the property market and wider political uncertainties, the Board have agreed to continue the recent dividend policy and pay an interim dividend of 1.50 pence per ordinary share.

 

In the absence of unforeseen circumstances, the Company expects the fourth interim dividend to be at least 1.50 pence per share and paid in January 2020.

 

The above dividend target is a target only and not a profit forecast.  There can be no assurance that the target can or will be met and this should not be taken as an indication of the Company's expected or future profitability.

 

For further information regarding the Company (Ticker: PBLT) (LEI: 213800EXPWANYN3NEV68) please call:

 

Tier One Capital Ltd (Investment Adviser)

Ian McElroy

+44 (0) 191 222 0099

finnCap Ltd (Sponsor, Broker and Financial Adviser)

William Marle / Grant Bergman

+44 (0) 207 220 0500

 

Maitland Administration (Secretary)

 

+44 (0) 1245 398 984

 

 

Notes to Editors:

 

TOC Property Backed Lending Trust PLC is a closed-end investment company. Its investment objective is to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term while managing downside risk through: (i) a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the UK; and (ii) in many cases, receiving the benefit of an associated profit share usually obtained by acquiring (at nil cost) a minority equity stake in the relevant borrower project development vehicle.

Tier One Capital is a Newcastle upon Tyne headquartered wealth management company and the appointed investment adviser to the TOC Property Backed Lending Trust PLC. Tier One Capital has offices in Newcastle, London and Switzerland, and specialises in providing wealth management advice to high net worth individuals, corporates and charities.


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