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Dividend Declaration

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RNS Number : 2306S
RM Secured Direct Lending PLC
05 November 2019
 

5 November 2019

RM Secured Direct Lending Plc

 

("RMDL" or the "Company")

 

LEI: 213800RBRIYICC2QC958

 

Dividend Declaration

 

Additional special dividend following portfolio outperformance

 

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 July 2019 to 30 September 2019, following portfolio outperformance arising year to date. Taking account of the special dividend, the total dividend payable in respect of the period will be 1.7 pence per ordinary share. This brings the total payments distributed to Shareholders over the last four quarters to 6.95 pence and a cumulative NAV return over this period with dividends re-invested of 8.01%.

Ex-Dividend Date - 5 December 2019

Record Date - 6 December 2019

Payment Date - 27 December 2019

The Company has elected to designate the above interim and special dividends as interest distributions to its ordinary shareholders.

James Robson, the Chief Investment Officer at RM Funds commented:

"The continued outperformance of RMDL reflects our ability to deliver excellent risk adjusted returns from our quality portfolio, with loans diversified across a number of sectors and supported by favourable security packages. This was most evident in the last quarter, the strongest since the Company's inception for normalised dividend cover from net income, which has reached 1.25 times. In addition, gross income increased to over £9m for the first nine months of the year as we focus on deploying and recycling capital into non-cyclical sectors. We remain disciplined in our approach and well-positioned to take advantage of our pipeline of attractive investment opportunities which offer stable and predictable returns. The Board expects the portfolio performance to exceed full-year targets."

END

 

 

For further information, please contact:

 

RM Funds - Investment Manager

James Robson

Pietro Nicholls

 

0131 603 7060

N+1 Singer Advisory LLP - Financial Adviser and Broker

James Maxwell

Lauren Kettle

 

020 7496 3000

Tulchan Communications LLP - Financial PR

Elizabeth Snow

Deborah Roney

 

0207 353 4200

[email protected]

PraxisIFM Fund Services (UK) Limited - Administrator and Company Secretary

Anthony Lee

Ciara McKillop

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 Capital Markets Limited

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 Capital is a specialist in alternative fund management, sales & trading, foreign exchange, and capital markets and advisory. 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.

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: RM Secured Direct Lending

Price: 99.5

Market: LSE
Market Cap: £121.61 m
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