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British Smaller Companies VCT plc Declares Dividend and Issues New Shares
LONDON – British Smaller Companies VCT plc has announced a significant financial update involving the payment of an interim dividend as well as the issuance of new shares through its dividend re-investment scheme (DRIS). Shareholders registered by November 22, 2024, received a payment of 2.0 pence per ordinary share on December 20, 2024.
In tandem with the dividend payout, the Company allocated 1,364,849 new ordinary shares at a price of 79.8 pence each to shareholders choosing to reinvest their dividends. This share price was determined from the Company’s net asset value, which stood at 81.8 pence per share as of September 30, 2024, adjusted for the dividend distribution. Remarkably, 18.0 percent of the total dividend was reinvested via the DRIS.
Additionally, 4,413 shares were set aside for the employees and members of YFM Private Equity Limited, the management firm overseeing the Company, raising their overall shareholding to 1,039,635 ordinary shares.
These newly issued shares are anticipated to be listed on the premium segment of the Official List of the Financial Conduct Authority and are expected to start trading on the London Stock Exchange’s Main Market around January 8, 2025.
As a result of this recent share issuance, the Company’s total share capital now consists of 301,302,716 ordinary shares with voting rights, alongside 32,317,862 ordinary shares currently held in treasury. This total will be relevant for shareholders to calculate notifications specified under the FCA’s Disclosure and Transparency Rules.
This initiative underscores the Company’s commitment to enhancing shareholder value through consistent dividend payments and encouraging reinvestment in its future potential. The announcement about the dividend and share allotment was issued in a press release from the Company.
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