LONDON - The Law Debenture Corporation p.l.c. has declared a third interim dividend of 8.0 pence per ordinary share, marking a 4.9% increase from the previous year's comparable payout. This decision aligns with the Board's strategy to match each of the first three interim dividends for 2024 with a quarter of the total 2023 dividend, which was 32 pence per share.
The dividend is scheduled for payment on January 23, 2025, to shareholders recorded at the close of business on December 20, 2024. Consequently, the company's shares are set to go ex-dividend on December 19, 2024.
This announcement continues Law Debenture's 46-year history of either maintaining or raising its dividend payments, supported by the steady income from its Independent (LON:IOG) Professional Services (IPS) and robust financial reserves.
Law Debenture's investment portfolio is managed by James Henderson and Laura Foll of Janus Henderson Investors, with a focus on achieving long-term capital growth and progressively increasing income. The goal is to surpass the FTSE Actuaries All-Share Index Total (EPA:TTEF) Return, and over the past decade, Law Debenture has increased its dividend by over 113% while outperforming its benchmark index by 52%.
The corporation's independent professional services business contributes approximately 20% to Law Debenture's Net Asset Value (NAV) but has funded about 34% of its dividends in the last ten years. This financial structure has granted the investment managers the flexibility to select robust business models and attractive valuation opportunities, aiming for sustained long-term growth and market outperformance.
The Law Debenture Corporation p.l.c. is a company registered in England and the information regarding this dividend declaration is based on a press release statement.
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