CDO Carador Eur

 

TIDMCDO 
 
RNS Number : 5930V 
Carador PLC 
13 July 2009 
 

Carador plc (the "Company") 
 
 
13 July 2009 
 
 
Dividend declaration 
 
 
The Board has declared an interim dividend of EUR0.0149 per ordinary share in 
respect of the quarterly period ended 30 June 2009. This dividend is payable on 
31 July 2009 to shareholders on the register as at the close of business on 24 
July 2009. US Dollar class shareholders will receive US$0.0208 per share, 
calculated at the prevailing exchange rate on 13 July 2009 of EUR1:US$1.3949. 
 
 
The level of dividend for the quarter is in line with the dividend for the 
quarter ended 31 March 2009 and continues to reflect several factors including 
(i) a greater percentage of cash flows received were allocated to principal 
(48.32%) as a result of lower estimations of future cash flows and the fact that 
the Company's pricing policy caps the income component of any CLO distribution 
(annualised) to 20% of the original investment, with any excess reallocated to 
principal, (ii) the impact of the increased level of cash in the portfolio 
which, as at 30 June 2009, represented an estimated 20% of the portfolio and 
(iii) the cashflow diversion from subordinated notes to repay senior notes in 
certain transactions following breaches in their over-collateralization tests as 
a result of increases in CCC assets and defaults in their underlying portfolios. 
 
 
 
 
Enquiries: 
 
 
Paul Noonan 
Northern Trust Investor Services (Ireland) Limited 
                       +353 1 542 2000 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DIVUOANRKORBAAR 
 

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