RiverFort Global Opportunities PLC Dividend Declaration (8496D)
November 02 2020 - 2:00AM
UK Regulatory
TIDMRGO
RNS Number : 8496D
RiverFort Global Opportunities PLC
02 November 2020
2 November 2020
RiverFort Global Opportunities PLC
("RGO" or the "Company")
Dividend declaration targeting a 7.5% gross yield
Background to dividend policy
On 22 September 2020, RGO published its interim results for the
six months to 30 June 2020. For this six month period, the Company
generated total income of GBP770,380 and a net profit of
GBP569,165. This was the Company's third consecutive set of full
year/interim results delivering an attractive level of income and
profitability thereby clearly validating the Company's investment
strategy adopted in 2018 which has enabled the Company to generate
income, trade profitability and grow its net asset value. In
addition, we believe that Q3 2020 will be another profitable
quarter.
We have also consistently said that we are very much focused on
creating value for our shareholders whether that be through capital
growth and/or the payment of dividends. As a result, against this
background of sustained profitability, the Board has decided to
commence the payment of dividends.
We have considered this step carefully and we believe that the
Company is now well-positioned to improve the return for its
shareholders, whilst still maintaining significant capacity to
deploy capital in its investment strategy.
Dividend declaration
We are targeting a 7.5% gross yield for the financial year
ending 31 December 2020, based on the Company's current market
capitalisation, commencing with the payment of a gross interim
dividend of 0.02 pence per share. Any final dividend and any
potential dividend in future financial years will clearly be
subject to the Company's financial performance going forward,
however, we envisage that the total dividend would be split
approximately one third interim and two thirds final. Furthermore,
the expected total dividend for 2020, is already covered by the
Company's earnings for the first six months of 2020.
The record date for this interim dividend will be Friday 13
November 2020, with the payment date expected to be Friday 4
December 2020. The Company's shares will become ex dividend on
Thursday 12 November 2020.
Phillip Haydn-Slater, Non-executive Chairman commented:
"This is a very significant step in the continued progression of
the Company. We hope that shareholders will be happy with the
progress that the Company has made to date and we look forward to
welcoming new investors seeking income as well as capital
appreciation from their investments."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information please contact:
RiverFort Global Opportunities
plc +44 20 3368 8978
Philip Haydn-Slater,
Non-executive Chairman
-----------------
Nicholas Lee, Investment
Director
-----------------
Nominated Adviser +44 20 7628 3396
-----------------
Beaumont Cornish
-----------------
Roland Cornish/Felicity
Geidt
-----------------
Joint Broker +44 20 7186 9950
-----------------
Shard Capital Partners
LLP
-----------------
Damon Heath/ Erik Woolgar
-----------------
Joint Broker +44 20 7562 3351
-----------------
Peterhouse Capital Limited
-----------------
Lucy Williams
-----------------
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END
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