Chenavari Toro Income Fund Limited Dividend Declaration
January 30 2024 - 1:00AM
RNS Regulatory News
RNS Number : 2870B
Chenavari Toro Income Fund Limited
30 January 2024
Chenavari Toro Income Fund Limited (the
Company)
30
January 2024
Dividend for the Quarter Ended 31 December
2023
The Company is pleased to announce
payment of its quarterly dividend of 2.5% (Euro 0.0162 per ordinary
share) (the "Regular Quarterly
Dividend") for the period from 1 October 2023 to 31 December
2023.
Payment will be made on 7 March 2024
to holders of ordinary shares recorded on the register as at close
of business on 9 February 2024 with an ex-dividend date of 8
February 2024.
Shareholders wishing to take the
dividend in scrip, or to make a dividend currency election, should
note that the last date to make an election to join the Scrip
dividend scheme or make a currency election to be eligible for the
dividend paying on 7 March 2024 is 17:00 22 February 2024. The
Scrip Reference Price will be calculated and announced on or around
15 February 2024.
Dividend policy update
The Company continues to rebalance
its portfolio towards tradable securities and has been able to make
attractive investments within the Public ABS and CLO sector as
opportunities arise within the market. To that effect, the Company
plans to remove the previously announced cap on maximum cash
balance, so the portfolio manager can have more flexibility to
continue to re-invest based on prevailing market conditions, with
excess cash being reinvested.
In line with the current dividend
policy the Company re-confirms its target quarterly dividend yield
of 2.5 per cent (by reference to NAV) equating to a targeted
annualised dividend yield of 10 per cent. (by reference to NAV).
The Company's net target return remains 9-11 per cent per
annum.
The dividend and net return targets
stated above are targets only and are not a profit forecast. There
can be no assurance that these targets will be met and they should
not be taken as an indication of the Company's expected future
results.
Further information in relation to
the Company is available at:
http://www.chenavaritoroincomefund.com
Enquiries:
Guy Goyard
Chenavari Investment
Managers
Email: tlir@chenavari.com
Telephone: +44 20 7259
3600
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END
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