NB Private Equity Partners Limited Nbpe Announces Dividend Payment
January 23 2017 - 1:00AM
UK Regulatory
TIDMNBPE
NB Private Equity Partners Announces the First 2017 Semi-Annual Dividend
23 January 2017
NB Private Equity Partners Limited ("NBPE" or the "Company"), a
closed-end private equity investment company, today declared the first
2017 semi-annual dividend payment on the Company's class A Ordinary
Shares ("Shares") of $0.25 per Share, to be paid on 28 February 2017.(1)
On an annualised basis, this dividend payment represents a dividend
yield of 3.2% based on the estimated December 2016 NAV and 4.1% based on
the London Stock Exchange closing price of $12.16 on 19 January 2017.
As part of its long-term policy of paying regular dividends, NBPE
intends to make semi-annual payments to its shareholders. As of 23
January 2017, the dividend is 52% covered by the run rate cash yield
from the income investments in the portfolio and approximately 14x
covered based on total 2016 cash distributions of approximately $331
million. NBPE continues to see a steady flow of new equity and income
investment opportunities as well as strong distribution activity.2
Dividend Timetable
Distribution amount: $0.25 cents per Share
Ex-dividend date: 2 February 2017
Dividend record date: 3 February 2017
Final day for Currency Election: 10 February 2017
Final day for DRIP Election3: 17 February 2017
Payment date: 28 February 2017
1. This dividend as well as future dividends shall be conditional on the
passing of the solvency test under Guernsey law. The Board of Directors
will continue to evaluate the Company's financial position, annual
dividend amounts and the timing of future dividends. Future dividend
payments will be announced by NBPE after the Board of Directors have
completed such evaluation.
2. The above distribution guidance regarding investment portfolio
performance is a target only and not a profit forecast. There can be no
assurance that this target will be sustained or that the Company will
make any distributions whatsoever. The times and dates in this
announcement are expected times and dates only and are subject to change.
Any such changes will be notified to shareholders through a regulatory
information service.
3. Anyone acting for the account or benefit of a U.S. person who elects to
receive additional shares through the dividend re-investment plan would
need to sign a Qualified Purchaser certification, which is available from
the Company's Investor Relations upon request by contacting +1 214 647
9593 or IR_NBPE@nb.com.
For further information, please contact:
NBPE Investor Relations +1 214 647 9593
Neustria Partners +44 (0)20 3021 2583
Nick Henderson
Nick.Henderson@neustriapartners.com
Robert Bailhache
Robert.Bailhache@neustriapartners.com
Charles Gorman
Charles.Gorman@neustriapartners.com
ABOUT NB PRIVATE EQUITY PARTNERS LIMITED
NBPE is a closed-end private equity investment company with class A
ordinary shares admitted to trading on Euronext Amsterdam and the
Specialist Fund Segment of the London Stock Exchange. NBPE has 2017 ZDP
shares admitted to trading on the Specialist Fund Segment of the London
Stock Exchange and the Daily Official List of The Channel Islands
Securities Exchange Authority Limited and 2022 ZDP Shares admitted to
trading on the Specialist Fund Segment of the Main Market of the London
Stock Exchange. NBPE holds a diversified portfolio of direct equity
investments, direct income investments and fund investments selected by
the NB Alternatives group of Neuberger Berman, diversified across
private equity asset class, geography, industry, vintage year, and
sponsor.
ABOUT NEUBERGER BERMAN
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages equities, fixed
income, private equity and hedge fund portfolios for institutions and
advisors worldwide. With offices in 19 countries, Neuberger Berman's
team is more than 1,900 professionals and the company has been named by
Pensions & Investments as a Best Place to Work in Money Management for
four consecutive years. Tenured, stable and long-term in focus, the firm
fosters an investment culture of fundamental research and independent
thinking. It manages $255 billion in client assets as of December 31,
2016. For more information, please visit our website at www.nb.com.
THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE
UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS
This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security.
NBPE is established as a closed-end investment company domiciled in
Guernsey. NBPE has received the necessary consent of the Guernsey
Financial Services Commission and the States of Guernsey Policy Council.
NBPE is registered with the Dutch Authority for the Financial Markets as
a collective investment scheme which may offer participations in The
Netherlands pursuant to article 2:66 of the Financial Markets
Supervision Act (Wet op het financial toezicht). All investments are
subject to risk. Past performance is no guarantee of future returns. The
value of investments may fluctuate. Results achieved in the past are no
guarantee of future results. This document is not intended to constitute
legal, tax or accounting advice or investment recommendations.
Prospective investors are advised to seek expert legal, financial, tax
and other professional advice before making any investment decision.
Statements contained in this document that are not historical facts are
based on current expectations, estimates, projections, opinions and
beliefs of NBPE's investment manager. Such statements involve known and
unknown risks, uncertainties and other factors, and undue reliance
should not be placed thereon. Additionally, this document contains
"forward-looking statements." Actual events or results or the actual
performance of NBPE may differ materially from those reflected or
contemplated in such targets or forward-looking statements.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: NB Private Equity Partners Limited via Globenewswire
http://www.nbprivateequitypartners.com
(END) Dow Jones Newswires
January 23, 2017 02:00 ET (07:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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