GCP Infrastructure Investments (LON:GCP) has announced a dividend of 1.75 pence per ordinary share, for the period from 1 April 2023 to 30 June 2023. The dividend will be paid on 13 September 2023 to holders of ordinary shares recorded on the register as at the close of business on 11 August 2023.
In light of the fact that the Company’s ordinary shares currently trade at a discount to their prevailing published Net Asset Value, the Directors consider that it would not on this occasion be in the interests of shareholders as a whole to offer a scrip dividend alternative, under which Shareholders would have been able to elect to receive new ordinary shares in lieu of the cash dividend. The Board has therefore exercised its discretion to suspend the scrip dividend alternative in accordance with its conditions in respect of this dividend payment.
All shareholders who are entitled to receive the dividend will therefore receive the dividend in cash.
The Board of GCP Infrastructure Investments will keep under consideration the offer of a scrip dividend alternative in respect of future quarterly dividends if the Company’s ordinary shares trade at a premium to their prevailing published NAV at the relevant time. Full details of the scrip dividend alternative can be found in the Scrip Dividend Circular in respect of the financial year ended 30 September 2023 (“Scrip Dividend Circular 2023”), which has been submitted to the National Storage Mechanism and is available for inspection at IFC5, St Helier, JE1 1ST and on the Company’s website at https://www.graviscapital.com/funds/gcp-infra/fund-info. Words and expressions defined in the Scrip Dividend Circular 2023 shall have the same meaning in this announcement.
