Pollen Street PLC Dividend Declaration (1353Z)
January 09 2024 - 9:19AM
UK Regulatory
TIDMPOLN
RNS Number : 1353Z
Pollen Street PLC
09 January 2024
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE
EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), CANADA,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL
Pollen Street plc (the "Company")
DIVIDEND DECLARATION
The Directors of Pollen Street plc have declared an interim
dividend of 13.00 pence per ordinary share for the three-month
period to 31 December 2023 (the "Interim Dividend").
The Interim Dividend will be paid on 1 March 2024 to holders of
ordinary shares on the register as of 19 January 2024. The
ex-dividend date is 18 January 2024.
The Company has elected to designate all the Interim Dividend as
an interest distribution to its shareholders. In doing so, the
Company is taking advantage of UK tax treatment by "streaming"
income from interest-bearing investments into dividends that will
be taxed in the hands of shareholders as interest income.
As previously announced, the Interim Dividend is the last
dividend that will be designated as an interest distribution to
shareholders in accordance with the UK tax legislation applicable
to the payment of interest distributions by investment trusts and
is the first dividend that is available to all shareholders
following completion of the combination between the Company and
Pollen Street Capital Holdings Limited on 30 September 2022.
Subject to the scheme of arrangement announced by the Company on
18 September 2023 (the "Scheme") becoming effective, subsequent
dividends will be declared by the new parent company of the group,
Pollen Street Group Limited ("PSGL"). It is expected that PSGL will
declare dividends on a bi-annual timetable, such that the next
dividend is expected to be an interim dividend declared following
publication of PSGL's half-year results. Further information on the
Company's proposed new holding company is available in the
prospectus published by PSGL on 27 November 2023, which is
available on the Company's website.
The Company also announces that the dividend reinvestment plan
(the "DRiP") operated by the Company has been suspended.
Accordingly, it will not be possible for shareholders to reinvest
any proceeds from the Interim Dividend via the Company's DRiP.
Subject to the Scheme becoming effective, it is expected that PSGL
will operate a new DRiP in time for the first dividend paid by PSGL
in 2024.
For further information about this announcement please
contact:
Computershare Investor Services PLC
Registrar
Tel: +44 (0) 370 707 4023
9 January 2024
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVMZGGMDLRGDZM
(END) Dow Jones Newswires
January 09, 2024 09:19 ET (14:19 GMT)
Pollen Street (LSE:POLN)
Historical Stock Chart
From Apr 2024 to May 2024
Pollen Street (LSE:POLN)
Historical Stock Chart
From May 2023 to May 2024