In QuotedData’s morning briefing 25 October 2024:

• As previously indicated, Alliance Witan (ALW) has increased its dividend following the combination of Alliance Trust and Witan Investment Trust to form Alliance Witan. ALW has declared a third interim dividend of 6.73p per share. The total of the first three interim dividends declared for 2024 is 19.97p (2023: 18.86p), representing an increase of 5.9% on the same payments for 2023. The third interim dividend is a 1.7% step up on the level of the first and second interim dividends and, barring any unforeseen circumstances, the fourth interim dividend will be at least equal to third interim. This will result in a total dividend for the 2024 financial year of at least 26.70p per share, which would represent a 6.0% increase over the Company’s financial year ended 31 December 2023.
• JPMorgan Japanese’s (JFJ’s) combination with JPMorgan Japan Small Cap Growth & Income (JSGI) has completed with JFJ acquiring approximately £144m of assets from JSGI, for which it is issuing 23,365,110 new ordinary shares to JSGI shareholders that have rolled over into JFJ. The JSGI Rollover formula asset value (FAV) per share was 356.946798p and the JFJ FAV per Share was 67.638780 pence, producing a conversion ratio of approximately 0.577922 JFJ Share per JSGI share.
• Taylor Maritime Investments (TMI) has published its third annual environmental, social and governance (ESG) report, covering the financial year ended 31 March 2024. The report can be found on the company’s website. Separately, TMI has published its Quarterly NAV announcement, trading update and factsheet. Highlights include that: Grindrod Shipping Holdings Limited (Grindrod) has delisted following completion of the acquisition by TMI; TMI’s debt was reduced by U$55.6m during the quarter; there were four asset sales agreed for gross proceeds of US$65.5m; and an interim dividend of 2 cents per share was declared with 1.1x dividend cover.
• Artemis Alpha (ATS) and Aurora (ARR) have both published prospectuses in relation to their proposed combination.
• Greencoat UK Wind (UKW) has published its Q3 Update, net asset value and dividend announcement. UKW has increased its investment in Kype Muir Extension, acquiring the remaining 50.1% in the wind farm from OnPath Energy. It says that this was at a price that is accretive to its NAV. UKW also refinanced both its RCF and near-maturing term debt with its existing set of lenders. UKW says that it continues to progress selective disposal opportunities, with a view to reducing its gearing and providing flexibility for further capital allocation.

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