Foresight 2 VCT Plc Foresight 2 Vct Plc : Dividend Declaration


 
TIDMFTN 
 
 
   Foresight 2 VCT plc 
 
   Infrastructure Shares Interim Dividend Announcement 
 
   As summarised in the recent Interim Management Statement and described 
in more detail below, the Board has declared an interim dividend of 2.5p 
per Infrastructure share which will be paid on 3 October 2014. The 
shares will be quoted ex-dividend on 24 September 2014 and the record 
date for payment will be 26 September 2014. 
 
   The overall level of income generated by the Infrastructure portfolio 
will be lower than originally planned, principally because increased 
competition for PFI investments has pushed up prices and thereby reduced 
yields. In this environment, it has also taken longer than expected to 
find appropriate investments at acceptable valuations. In the meantime, 
funds awaiting investment have been able to earn only the prevailing 
rate for short term deposits, which is significantly lower than the 
target rate for the Infrastructure Fund as a whole. 
 
   The 2.5p dividend per Infrastructure share (making 5p per Infrastructure 
share for the last 12 months) is being paid out of both revenue and 
capital reserves. However, in future, the reduced yield on the 
Infrastructure portfolio will affect the cash inflows out of which 
dividends can be paid and will reduce the ability to pay regular 
dividends at the rate of 5p per annum. The lower yields that currently 
apply may result in an increase in the capital value of some of the 
investments but this would only be available for distribution when an 
investment is sold. This is unlikely to happen at such an early stage in 
the life of the portfolio. 
 
   There remains a significant amount of cash in the Infrastructure share 
fund awaiting investment and the Manager has confirmed that it is 
confident the fund will be fully invested by the end of 2014. 
 
   For further information please contact: 
 
   Gary Fraser, Foresight Group:                            020 3667 8143 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Foresight 2 VCT PLC via Globenewswire 
 
   HUG#1856351 
 
 
  http://www.foresightgroup.eu/

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