25 February 2020
RM Secured Direct Lending Plc
("RMDL" or the "Company")
Additional special dividend
The Directors of RMDL, an investment trust specialising in secured debt investments, have declared an interim dividend of 1.625 pence per ordinary share and an additional special dividend of 0.075 pence per ordinary share in respect of the period from 1 October 2019 to 31 December 2019.
This is the third special dividend to be declared during the year ended 31 December 2019, and follows the sustained outperformance of the portfolio.
This gives a total dividend paid for the year of 7.025 pence per ordinary share which is 0.525 pence per ordinary share higher than the stated target distribution of 6.5 pence per ordinary share. The NAV total return for the financial year was 8.18%.
The 7.025 pence dividend for the 2019 financial year versus the 6.5 pence per ordinary share target is 1.3 times covered by revenue. Subject to final audit, the Board believes that the Company will retain 1.510 pence per ordinary share in revenue reserves.
Ex-Dividend Date - 5 March 2020
Record Date - 6 March 2020
Payment Date - 27 March 2020
The Company has elected to designate the above interim and special dividends as interest distributions to its ordinary shareholders.
For further information, please contact:
RM Funds - Investment Manager
0131 603 7060
N+1 Singer Advisory LLP - Financial Adviser and Broker
020 7496 3000
Tulchan Communications LLP - Financial PR
0207 353 4200
PraxisIFM Fund Services (UK) Limited - Administrator and Company Secretary
020 7653 9690
About RM Secured Direct Lending
RM Secured Direct Lending Plc is a closed-ended investment trust established to invest in a portfolio of secured debt instruments. The Company aims to generate attractive and regular dividends through loans sourced or originated by the Investment Manager with a degree of inflation protection through index-linked returns where appropriate. Loans in which the Company invests are predominantly secured against assets such as real estate or plant and machinery and/or income streams such as account receivables.
About RM Funds
RM Funds is a trading name of RM Capital Markets Limited, the Investment Manager to RM Secured Direct Lending PLC and VT RM Alternative Income Fund. RM Funds is a specialist in alternative fund management and manages $300m in assets. Founded in 2010, with offices in Edinburgh, and London, it has transacted in excess of £50 billion of bonds and loans since its inception, and advised or originated, structured and managed the due diligence process for over £1 billion of Sterling credit transactions and approximately €700 million of Euro based transactions in each case since 2012.