Overview
Chelverton Small Companies Dividend Trust has announced that its board has been considering the options for a refinancing of the Zero Dividend Preference shares, which are due for repayment on 8 January 2018. The Board says that it believes that, given the current economic environment, a ZDP refinancing could be achieved at an attractive interest rate which would enable the Company to continue to provide Ordinary shareholders with an attractive level of income, supported by the Company’s material revenue reserve, as well as the opportunity for further capital growth driven principally by the well-established and diversified mid – small companies portfolio. The board says that, subject to stock market conditions, the Company will also be considering the potential to issue further Ordinary shares at the time of the issuance of any new Zero Dividend Preference Shares.
Chelverton Small Companies Dividend considering new ZDP issue : SDV, SDVZ