Oakley Capital Investments has announced that it is declaring its maiden dividend of 4.5p per share in respect of the 2016 financial year. The dividend will be paid on 30 January 2017 to shareholders registered on 30 December 2016. Thereafter, its Board says that it will adopt a dividend policy which takes into account the profitability and underlying performance of the Company in addition to capital requirements, cash flows and distributable reserves. Subject to any unforeseen circumstances, the Board intends to maintain a 4.5 pence per share for the 2017 financial year, paying 2.25 pence per share semi-annually following the publication of half yearly reports as of 30 June and 31 December.
The company says that the decision to introduce a dividend is based on the consistent income generated from co-investments and increased cash returns from exits. The Company says that it has experienced strong NAV growth in 2016 due to growth in the underlying portfolio companies. The 30 June 2016 NAV of £2.15 per share represented an 18% uplift year on year and a 24% uplift if adjusted on a constant currency basis to 226p to take into account the partial disposal of Parship in October and potential disposal of Host Europe Group to GoDaddy Inc. announced on 7 December.
Oakley Capital Investments announces maiden dividend of 4.5p : OCL