Maven Income and Growth VCT 3 PLC Dividend Declaration (5160X)
January 05 2022 - 5:34AM
UK Regulatory
TIDMMIG3
RNS Number : 5160X
Maven Income and Growth VCT 3 PLC
05 January 2022
Maven Income and Growth VCT 3 PLC
Declaration of Further Interim Dividend
The Directors of Maven Income and Growth VCT 3 PLC (the Company)
are pleased to announce that, following the profitable realisation
of the holding in Quorum Cyber Security, which completed in late
December 2021 and provided a return of 6.5 times cost, and to
ensure that the Company will continue to comply with the VCT
regulations at all times, they consider it appropriate to declare a
further interim dividend in respect of the year ended 30 November
2021, of 2.00p per Ordinary Share, to be paid on 11 March 2022 to
Shareholders on the register at close of business on 11 February
2022.
As Shareholders will be aware from recent Annual and Interim
Reports, decisions on distributions take into consideration a
number of factors, including the availability of surplus revenue,
the realisation of capital gains, the adequacy of distributable
reserves and the VCT qualifying level. These factors are all kept
under close and regular review by the Board and the Manager, who
recognise the importance of tax-free distributions to Shareholders
and remain committed to maintaining a programme of dividends in
accordance with the Company's stated policy.
Since the Company's launch, and after receipt of this latest
interim dividend, 92.42p per share will have been distributed in
tax-free dividends. It should be noted that the effect of paying
dividends is to reduce the NAV of the Company by the total cost of
the distribution.
Dividend Investment Scheme
The Company has in place a Dividend Investment Scheme (DIS),
through which Shareholders may elect to have their dividend
payments used to apply for new Ordinary Shares issued by the
Company under the standing authority requested from Shareholders at
Annual General Meetings. Shares issued under the DIS should qualify
for VCT tax reliefs applicable for the tax year in which they are
allotted. Terms & conditions of the scheme, together with a
mandate form, are available from the Company's website at:
www.mavencp.com/migvct3 .
Shareholders who have not previously applied to participate in
the DIS, and who wish to do so in respect of the dividend payable
on 11 March 2022, should ensure that a mandate form is received by
the Company's new Registrar, The City Partnership (UK) Limited
(appointed with effect from 25 October 2021), prior to the dividend
election date of 25 February 2022. Election to participate in the
DIS can also be made through the Registrar's share portal at
https://maven-cp.cityhub.uk.com .
Issued on behalf of the Board
Maven Capital Partners UK LLP
Secretary
5 January 2022
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END
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