Pollen Street Secured Lending plc (LON:PSSL) announced today that on 4 May 2020, the Directors declared an interim dividend of 12p per ordinary share for the three month period to 31 March 2020. The dividend will be covered by income of 12p, from Company’s revenue reserve.
The dividend will be paid on 19 June 2020 to shareholders on the register as of 15 May 2020. The ex-dividend date is 14 May 2020.
Pollen Street has elected to designate all of the interim dividend for the three month period to 31 March 2020, as an interest distribution to its shareholders. In doing so the Company is taking advantage of UK tax treatment by “streaming” income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income.
No tax will be deducted at source from the interest distribution paid on 19 June 2020, or from future interest distributions following changes to the taxation of dividends effective from 6 April 2019.
The last date for elections for the Dividend Reinvestment Plan is 29 May 2020.