The Law Debenture Corporation p.l.c.
Second Interim Dividend Announcement - Board increases dividend by 5.8%
· Declaring a second interim dividend of 6.875 pence per ordinary share payable in October 2021, representing an increase of 5.8% over the prior year's second interim dividend.
· It remains the Board's intention for each of the first three interim dividends for 2021 to be equivalent to a quarter of Law Debenture's total 2020 dividend of 27.5 pence per ordinary share.
· The Board's current intention is for the total 2021 dividend to be an increase on the total 2020 dividend of 27.5 pence per ordinary share.
The pandemic has had a residual effect on dividends across the market that will likely affect dividend payments for the next several years. Despite this, Law Debenture will enter its 43rd year of maintaining or increasing its dividend payments. The combination of Law Debenture's Independent Professional Services businesses, which offers a reliable stream of revenue, and strong reserves continues to give the Board confidence.
In line with our investment objective of achieving long-term capital growth and steadily increasing income for shareholders, we have declared a second interim dividend of 6.875 pence per ordinary share.
This dividend will be paid on 28 October 2021 to shareholders on the register at close of business on 8 October 2021. The Corporation's shares will go ex-dividend on 7 October 2021.
Law Debenture Corporate Services Limited
Corporate Secretary
30 September 2021
Contact:
Tulchan Communications
Simon Pilkington, Deborah Roney
+44 (0)777 193 7173
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