GCP Infrastructure Investments Limited (LON: GCP), the only UK listed fund focused primarily on investments in UK infrastructure debt has announced a dividend of 1.9 pence per ordinary share, for the period from 1st July 2019 to 30th September 2019. The dividend will be paid on 22 November 2019 to holders of ordinary shares recorded on the register as at the close of business on 25 October 2019.
The Company will also be offering a scrip dividend alternative under which shareholders may elect to receive new ordinary shares in lieu of the cash dividend. The price of a new ordinary share to be issued under the scrip dividend alternative will be calculated by taking the average of the Company’s closing middle market quotations of an ordinary share for the four consecutive dealing days commencing on the ex-dividend date of 24 October 2019.
Full details of the scrip dividend alternative can be found in the Scrip Dividend Circular in respect of the financial year ended 30 September 2019, which has been submitted to the National Storage Mechanism and is available for inspection at 12 Castle Street, St Helier, JE2 3RT and on the Company’s website at https://www.graviscapital.com/funds/gcp-infra/literature
The reference price for the scrip shares will also be calculated and published on or around 31 October 2019.
Shareholders will receive the dividend in cash unless they have completed either an evergreen standing election (for holders of ordinary shares in certificated form only) or a CREST Dividend Election Input Message (for holders of ordinary shares in CREST only).
Holders of GCP Infrastructure Investments Limited ordinary shares in certificated form who complete a Scrip Dividend Mandate will continue to receive scrip shares in lieu of their entire cash dividend entitlement for future dividends unless they revoke their Scrip Dividend Mandate, details of which are set out in the Scrip Dividend Circular 2019. For shareholders who hold their shares through CREST, a CREST Dividend Election Input Message should be issued on each occasion where a scrip dividend alternative is offered.
Expected timetable:
| Shares quoted ex-dividend | 24-Oct-19 |
| Record date for dividend | 25-Oct-19 |
| Publication of reference price for scrip dividend alternative | 31-Oct-19 |
| Final time and date for receipt by the Receiving Agent of Scrip dividend mandates and for submission of CREST elections | 5.00 pm on 8 November 2019 |
| CREST stock account credited with new Ordinary Shares | 22-Nov-19 |
| Dividend payment date | 22-Nov-19 |
| Dealings commence in new Ordinary Shares | 22-Nov-19 |
