DJ Ace Liberty & Stone PLC Dividend Declaration
RNS Number : 0473R
Ace Liberty & Stone PLC
25 October 2019
ACE LIBERTY AND STONE PLC
("Ace" or "the Company")
First Dividend Announcement for FY2019/20
Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, is pleased to announce the first interim dividend for the year ending 30 April 2020 of 0.83p per ordinary share. There are currently 43,200,368 shares in issue and therefore the dividend will total GBP358,563.
The dividend will be paid on or around 22 November 2019 to all shareholders on the register as at 8 November 2019. Ex-dividend date is 7 November 2019. Ace's dividend payment policy, subject only to adequate profitability and cash flow, is to make three payments for each year ending 30 April; at the end of October, the end of April and the end of July.
Ismail Ghandour, Chief Executive Officer, commented:
"A year ago we announced that the Board had decided to increase the Company's dividend payment frequency in order to benefit shareholders. We are delighted to enter our second financial year where we intend to make three dividend payments, with the first payment to be made on or around 22 November 2019. We are one of the few NEX listed businesses with a stable dividend policy and our business continues to flourish and prosper despite the challenging market conditions and uncertain macroeconomic outlook."
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The Directors accept responsibility for this announcement.
For further information, please contact:
Ace Liberty & Stone Plc Ivan Minter, Financial Director Tel: +44 (0) 20 7201 8340 http://acelibertyandstone.com Alfred Henry Corporate Finance Ltd, NEX Exchange Corporate Adviser Jon Isaacs / Nick Michaels Tel: +44 (0) 20 3772 0021 www.alfredhenry.com SP Angel Corporate Finance LLP Broker Abigail Wayne / Rob Rees Tel: +44 (0)20 3470 0470 www.spangel.co.uk Belvedere Communications John West / Llew Angus Tel: +44 (0) 20 3687 2756 www.belvederepr.com ACF Equity Research Christopher Nicholson / Amalia Barnoschi Tel: +44 (0) 20 7558 8974 www.acfequityresearch.com
Notes to Editors
Ace Liberty & Stone Plc is a property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Sunderland, Plymouth, Dudley, Gateshead, Barnstaple, and London. The Company locates commercial and residential properties which have the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation. Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than-average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking further investment opportunities in the UK to create value for existing and new investors.
Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.
For more information on the Company please visit www.acelibertyandstone.com
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(END) Dow Jones Newswires
October 25, 2019 02:00 ET (06:00 GMT)