Target total dividend
BB Healthcare Trust plc (the "Company")
Statement re: Target total dividend for the financial year ending 30 November 2020
As stated in the Company's IPO prospectus and in the Company's prospectus dated 5 November 2018, the Company aims to target a dividend each financial year equal to 3.5 per cent of the Net Asset Value as at the last day of the Company's preceding financial year.
The Company intends to pay dividends on a semi-annual basis, by way of two equal dividends, with dividends declared in July and paid in August and proposed in February / March and paid in March / April in each year.
For the financial year ended 30 November 2019, the third financial period of the Company, the Company paid an interim dividend of 2.425p per ordinary share in August 2019 and in due course the Board is intending to propose a final dividend of 2.425p per ordinary share.
For the financial year ending 30 November 2020, the target total dividend will be 5.0p per ordinary share, this being 3.5 per cent of the unaudited net asset value per ordinary share of 143.11p per ordinary share (including current financial year revenue items) as at 30 November 2019. The Board intends to declare an interim dividend of 2.5p per ordinary share, being half of the target total dividend for the financial year ending 30 November 2020, in July 2020 and intends to pay this dividend in August 2020. The Board intends to propose a final dividend of 2.5p per ordinary share for the financial year ending 30 November 2020, in February / March 2021 and intends to pay this dividend in March / April 2021.
Shareholders will again be offered the opportunity to participate in the Scrip Dividend Scheme and elect for their cash dividend to be automatically subscribed on their behalf for new Ordinary Shares. Shareholders who do not elect to participate in the Scrip Dividend Scheme will receive their dividends in cash.
The Company pays dividends from a combination of available net income during the financial year and other reserves. It is currently anticipated that most of the target dividend for the financial year ending 30 November 2020 will be financed from other reserves of the Company. This announcement of a target dividend for the financial year ending 30 November 2020 should not be taken to imply a profit forecast by the Company.
Paul Major / Brett Darke
Bellevue Asset Management (UK) Ltd
Tel: +44 (0)20 3871 2862
Anthony Lee / Ciara McKillop
PraxisIFM Fund Services (UK) Limited
Tel: +44 (0)20 7653 9690
3 December 2019
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Quick facts: BB Healthcare Trust PLC
Market Cap: £657.13 m
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