Bellevue Healthcare Trust PLC (LSE:BBH) has revealed that for its financial year ending 30 November 2023, the target total dividend will be 5.99p per ordinary share, being 3.5% of the unaudited net asset value per ordinary share of 171.16p per ordinary share as of 30 November 2022.
The company said its board intends to declare an interim dividend of 2.995p per ordinary share, being half of the target total dividend for the financial year ending 30 November 2023, in July 2023 and intends to pay this dividend in August/September 2023.
It added that the board intends to propose a final dividend of 2.995p per ordinary share for the financial year ending 30 November 2023, in February/March 2024 and intends to pay this dividend in March/April 2024.
For the financial year ended 30 November 2022, Bellevue paid an interim dividend of 3.235p per ordinary share in September 2022 and in due course the board is intending to propose a final dividend of 3.235p per ordinary share.
As stated in the company's IPO prospectus, Bellevue aims to target a dividend each financial year equal to 3.5% of its net asset value as at the last day of the company's preceding financial year and intends to pay dividends on a semi-annual basis, by way of two equal dividends, with dividends declared in July and paid in August/September and proposed in February/March and paid in March/April in each year.
The company pays dividends from a combination of available net income during the financial year and other distributable reserves. It is currently anticipated that most of the target dividend for the financial year ending 30 November 2023 will be financed from other distributable reserves of the company.