# Sequoia declares interim dividend of 1.71875p per share

- Link: https://www.directorstalkinterviews.com/sequoia-declares-interim-dividend-of-1.71875p-per-share/4121130037
- Published: 2023-10-19T07:28:48+01:00
- Author: Amilia Stone

**Sequoia Economic Infrastructure Income Fund Limited **(LON:SEQI) has declared 
that an interim dividend of 1.71875p per share will be payable to holders of Ordinary
Shares as follows in respect of the three-month period ended 30 September 2023:

| Ex-Dividend Date:  | 26 October 2023  | 
| Record Date:  | 27 October 2023  | 
| Payment Date:  | 24 November 2023 | 
| Dividend per Ordinary Share:  | 1.71875 pence per share  |

As previously announced by Sequoia on 6 May 2022, the Board had exercised its discretion
to suspend the Scrip Dividend Alternative. With effect from the Company’s Q3 dividend,
which is expected to be paid on or around 24 November 2023, the Company will be 
introducing the option for shareholders to invest their dividend in a Dividend Reinvestment
Plan. Further details are available in the announcement made on 13 October 2023.

**Investment Adviser Shares**

The Company further announces that in accordance with the terms of the Investment
Advisory Agreement between the Company and Sequoia Investment Management Company
Limited, the Board has considered the issue of shares to the Investment Adviser 
for the relevant portion of the fees payable to the Investment Adviser for the three-
month period ended 30 September 2023. As the closing price for the Company’s ordinary
shares on  17 October 2023 (being the last trading day prior to the Board considering
the issue of shares to the Investment Adviser) was at a discount to the last published
NAV per share, the relevant portion of the fees payable to the Investment Adviser
for the three month period ended 30 September 2023 which would otherwise have been
issued as shares, will instead be paid by the Company to the Investment Adviser 
in cash in the amount of £247,795.94. The Investment Adviser has committed to issue
an irrevocable instruction upon receipt of the funds to utilise such cash to acquire
ordinary shares in the capital of the Company in the market without delay and such
shares will be subject to a three-year rolling lock-up in accordance with the terms
of the Investment Advisory Agreement. A further announcement will be released in
the coming days once the shares have been acquired by the Investment Adviser.

In addition, Sequoia has been notified by the Investment Adviser that, rather than
sell any of the shares it owns and which it has the right to sell at this time, 
it intends to enter into a borrowing facility secured against its shares held in
the Company, as it believes the current share price is not properly reflective of
the Company’s net asset value per share. The Investment Adviser owns 4,785,730 shares,
excluding holdings by individuals at the Investment Adviser.

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