JPMorgan Multi-Asset Growth & Income plc (LON:MATE) have declared the following distribution:
First interim distribution
A first interim distribution of 1.025 pence per ordinary share, for the year ending 28th February 2022, will be paid on 6th August 2021 to shareholders on the register at the close of business on 2nd July 2021. The ex-dividend date will be 1st July 2021.
For this first interim distribution of the Company’s year ending 28th February 2022, JPMorgan Multi-Asset Growth & Income has elected not to ‘stream’ part of the distribution payment and therefore the whole of the 1.025 pence will be designated as a dividend to shareholders.
Tim Mitchell, Investment Trust Client Director, at J.P. Morgan Asset Management, commented on the dividend hike:
“This is the first time since launch, MATE has increased its quarterly dividend, on the back of the change of the Company’s dividend policy announced on 23rd March, to pay a dividend in line with UK CPI. I am delighted that our investors are seeing the benefit of this innovative dividend policy which aims to protect their income from inflationary pressures.”
This policy change was announced back on 23rdMarch 2021. The Company’s progressive distribution policy to be linked to inflation states:
- The Board will adjust the existing policy so that the total annual distribution will grow, as a minimum,
in line with the UK’s annual Consumer Price Index (CPI), from the current distribution level of 4 pence
per share, per annum, paid quarterly. Based on the most recently published (February 2021) CPI
figures by the Office for National Statistics, the Company envisages paying a distribution of 4.1 pence
per share for the Company’s financial year ending 28th February 2022. Distributions will continue to be
paid to shareholders in August, November, February and May of each year.
- It is expected that the first interim distribution for this financial year will be declared in June, payable
in August 2021.
- The Company will draw on distributable revenue and capital reserves when the dividend is not
covered by current year income.
- Cognisant of a rise in the medium term risk of rising inflation the Board believe this will be an
attractive and comforting policy.
JPMorgan Multi-Asset Growth & Income plc (LON:MATE) combines sustainable income and capital growth from globally diversified investments. The Trust aims to achieve a long-term total return of 6% per annum and an initial annual dividend of 4% paid quarterly.