Palace Capital plc
("Palace Capital" or the "Company")
Dividend declaration
Further to the dividend forecast provided on 19 September 2017, Palace Capital, the property investment company that focusses on commercial property outside London, is pleased to announce that it will pay an interim dividend of 9.5p per ordinary share on 29 December 2017 to shareholders on the register as at 8 December 2017. The dividend is in respect of the six months ended 30 September 2017 and the interim results for this period will be announced on 4 December 2017.
As previously announced, following this payment, the Company intends to move to a quarterly dividend policy. The Company expects that the first quarterly dividend will be paid in April 2018.
Date: 30 November 2017
For further information, contact:
Palace Capital plc
Neil Sinclair, Chief Executive
Stephen Silvester, Finance Director
Tel. +44 (0)20 3301 8331
Allenby Capital Limited (Nominated Adviser and Joint Broker)
Nick Naylor / James Reeve / Asha Chotai
Tel. +44 (0)20 3328 5656
Arden Partners plc (Joint Broker)
Chris Hardie / Ciaran Walsh
Tel. +44 (0)207 614 5917
Capital Access Group (Financial PR)
Scott Fulton
Tel. +44 (0)20 3763 3400
About Palace Capital plc (www.palacecapitalplc.com):
Palace Capital is a UK property investment company admitted to trading on the AIM Market of the London Stock Exchange (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 20.0% increase in adjusted profit before tax, a 7.0% uplift in EPRA NAV per share and a 16.0% increase in dividends.
