DJ Ace Liberty & Stone PLC Dividend Declaration
RNS Number : 6770E
Ace Liberty & Stone PLC
22 October 2018
22 October 2018
Ace Liberty and Stone Plc
("Ace" or "the Company")
Interim Dividend Announcement
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 that, as set out in the announcement of the final results on 28 September 2018, the Board has resolved to increase the dividend payment frequency.
Up to now the dividend has been declared annually and paid in July following the year end. In future it will be paid in three instalments; the first payment will be in October (halfway through the year); the second in April (at the end of the year); and the third in July following the year end (at the same time as the existing payment).
This arrangement will benefit shareholders with an earlier receipt of the dividend and enable the Board to increase dividends more quickly than in the past by better utilisation of the Group's cash inflow.
As a result, the Board is pleased to announce that it will pay an interim dividend of 0.83 pence per share, which equates to a total payment of approximately GBP 338,000. The dividend will be paid on or around 9 November 2018 to shareholders who were registered on 26 October 2018. The ex-dividend date is 25 October 2018.
Ismail Ghandour, Chief Executive of the Company commented: "We are delighted to be in a position to reward shareholders with a second dividend payment this year, following an earlier dividend declared in July."
The Directors accept responsibility for this announcement.
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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
Notes to Editors
Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Sunderland, Plymouth, Dudley, Gateshead Tyne and Wear, 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 22, 2018 02:00 ET (06:00 GMT)