The
Law Debenture Corporation p.l.c.
First Interim Dividend Announcement
· Declaring a first interim dividend of 8.0 pence per ordinary
share payable in July 2024, representing an increase of 4.9% over
the prior year's first interim dividend.
·
It is the Board's intention
for each of the first three interim dividends for
2024 to be equivalent to a quarter of Law Debenture's total 2023
dividend of 32 pence per ordinary share.
The combination of IPS' steady
income and our strong reserves allows Law Debenture to continue
executing its 46-year track record of maintaining or increasing its
dividend payments.
This dividend will be paid on 4 July
2024 to shareholders on the register at close of business on 31 May
2024. The Corporation's shares will go ex-dividend on 30 May
2024.
Law Debenture Corporate Services
Limited
Corporate Secretary
22 May 2024
Contact:
Tulchan
Communications
David Allchurch, Guy
Bates
Lawdebenture@tulchangroup.com
+44 (0)777 193 7173
Notes to Editor
Law Debenture's equity portfolio of
investments is managed by James Henderson and Laura Foll of Janus
Henderson Investors.
Our objective is to achieve
long-term capital growth in real terms and steadily increasing
income. The aim is to achieve a higher rate of total return
than the FTSE Actuaries All-Share Index Total Return through
investing in a diversified portfolio of stocks.
In the last ten years Law Debenture
has increased its dividend by more than 113% and outperformed its
benchmark, the FTSE Actuaries All-Share Index, by
52%1.
Our leading independent professional
services business accounts for c.20% of Law
Debenture's NAV but has funded c.34% of dividends over the past
decade. As a result, our Investment Managers' have the flexibility
of selecting strong business models and attractive valuation
opportunities, which will continue to position the equity portfolio
for future longer-term growth and outperformance.
The Law Debenture Corporation p.l.c.
is registered in England, company registration number 00030397. LEI
number - 2138006E39QX7XV6PP21
1 Source: Law Debenture's Annual Financial Report for the period
ended 31 December 2023.