Dividend

Dividend Distribution

The Board has declared that it will distribute excess cash as an initial special dividend of £140m (£3.65 per share) in December, and also intends to pay a subsequent special dividend in respect of the £21m (£0.54 per share) proceeds of the sale of Knight Square, which is conditional on receipt of regulatory approval which is anticipated to be received in the first quarter of 2019.

The Board also announced a future distribution policy comprising intended annual dividends of £10m per annum pending further material disposals.

Prior to this, in February 2015, a distribution policy was announced whereby Electra proposes to return to shareholders a targeted 3% of NAV per annum, by way of cash dividend or share buybacks. Any shares bought back under this policy will be cancelled.

Since 1st October 2016 £1.8 billion has been returned to shareholders.

Dividend Reinvestment Plan

A Dividend Reinvestment Plan (the "Plan") has been arranged with Equiniti, the registrar, whereby existing shareholders have the option of reinvesting any dividend payments to buy more fully paid ordinary shares in the Company.

For further details on the Plan please call the Equiniti helpline on 0371 384 2351* (or +44 121 415 7047 if calling from outside the United Kingdom).

Dividends paid/declared since the distribution policy was revised in February 2015

Description     
Dividend Amount
(pence per ordinary share)
Ex. Dividend
Date
Record Date Payment Date
Interim Dividend 2015 38.0 04/06/15 05/06/15 24/07/15
Final Dividend 2015 78.0 21/01/16 22/01/16 26/02/16
Interim Dividend 2016 44.0 12/05/16 13/05/16 24/06/16
Second Interim Dividend 2016** 110.0 15/12/16 16/12/16 19/01/17
Special Dividend 2017** 2,612.0 06/04/17 07/04/17 05/05/17
Second Special Dividend 2017** 914.0 08/06/17 09/06/17 14/07/17
Third Special Dividend 2017** 914.0 02/11/17 03/11/17 01/12/17
Special Dividend 2018 25.0 07/06/18 08/06/18 28/06/18
Initial Special Dividend 365.0 15/11/18 16/11/18 14/12/18
 

* Lines open 8.30am to 5.30pm (UK time), Monday to Friday, excluding UK bank holidays.
** Please note that the Dividend Reinvestment Plan (“DRIP”) option did not apply to these dividends.

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