abrdn European Logistics Income plc Declaration of Interim Dividend
May 23 2024 - 2:00AM
RNS Regulatory News
RNS Number : 5514P
abrdn European Logistics Income plc
23 May 2024
abrdn European Logistics Income
plc
LEI: 213800I9IYIKKNRT3G50
DECLARATION OF INTERIM DISTRIBUTION
23 May 2024 - abrdn European Logistics Income
plc (LSE:
ASLI), the Company which invests in a diversified portfolio of
European logistics properties, announces an interim distribution
for the year ending 31 December 2024.
The Board has declared an interim
distribution of 1.41 euro cents (equivalent to 1.21 pence) per
Ordinary share, in respect of the year ending 31 December 2024
(2023: 1.41 euro cents), payable in sterling on 5 July 2024 to
Ordinary shareholders on the register on 7 June 2024 (ex-dividend
date of 6 June 2024).
Following the announcement of the
conclusion of the Strategic Review on 20 May 2024, the Board
intends to put forward proposals to shareholders for a managed
wind-down of the Company (the "Managed Wind-Down"). Accordingly,
the Company expects to publish a circular in June 2024 to convene a
general meeting at which it will seek approval from shareholders
for the proposed new investment policy by way of ordinary
resolution. Should shareholders vote to approve the Managed
Wind-Down, as the portfolio asset disposal programme commences, the
income generated by the Company will diminish. As a result, the
Company's ability to maintain the current level and frequency of
distributions will also decrease.
Distributions will be required to
ensure that the Company's investment trust status is maintained
through the process and may take the form of either dividend income
or "qualifying interest income" which may be designated as an
interest distribution for UK tax purposes and therefore subject to
the interest streaming regime applicable to investments
trusts.
Of this interim distribution
declared of 1.21 pence per Ordinary share, 1.02 pence (equivalent
to 1.19 euro cents) is declared as dividend income with 0.19 pence
(equivalent to 0.22 euro cents) treated as qualifying interest
income.
The interim distribution will be
paid in sterling to shareholders on the register. However,
shareholders are able to make an election to receive distributions
in euros. The form for applying for such election can be obtained
from the Company's UK registrars (Equiniti Limited) and any such
election must be received by the Company's registrars no later than
5:00 p.m. on 7 June 2024.
Details of the Company and its
property portfolio may be found on the Company's website which can
be found at: www.eurologisticsincome.co.uk
abrdn Holdings Limited
Secretary
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