Skip to content

Increase in Annual Dividend Targets

RNS Number : 9404B
CVC Income & Growth Limited
05 February 2024


5 February 2024



CVC Income & Growth Limited (the “Company”)

(a closed-ended investment company incorporated in Jersey with registration number 112635)

Registered Office: IFC 1, The Esplanade, St Helier, Jersey, JE1 4BP


Increase in Annual Dividend Targets


The information contained within this announcement constitutes inside information.

Further to the Company’s announcement made on 7 March 2023, the Board of Directors has completed its periodic review of the Company’s annual dividend targets. As a consequence, the Company’s annual dividend targets are being increased to 8.25p per ordinary Sterling Share and 7.25c per ordinary Euro Share with immediate effect. This means that the Company’s quarterly dividends will be increased to 2.0625p per Sterling Share and 1.8125c per Euro Share, including the Company’s first quarter 2024 dividends, payable in the second quarter of 2024.


The Chairman of the Company, Richard Boléat, commented: “The Board of Directors continues to give detailed consideration, not only to the current cash yield of the Investment Vehicle’s underlying portfolio by principal reference to its weighted average coupon, but also to market expectations around future trends in default rates and the direction of risk-free rates in the Company’s chosen markets, given the Company’s predominantly floating rate exposure. The Board is mindful that shareholders expect changes to dividend targets to be made on a sustainable basis, and thus, in the absence of significant and relevant unexpected macroeconomic or geopolitical events, the Company’s annual dividend targets will not be changed for at least the next 12 months.”


Mr Boléat added “The Board of Directors also wishes to reconfirm that, in the event that the Investment Vehicle portfolio produces surplus cash income beyond that currently anticipated, an upwards only adjustment will, if appropriate, be made to the Company’s fourth quarter 2024 dividends payable in the first quarter of 2025, in a manner similar to that recently announced in respect of the fourth quarter of 2023. There should be no expectation as to the level of any such adjustments or indeed whether such adjustments will arise at all.”


The person responsible for arranging for the release of this announcement on behalf of the Company is Sharon A Williams of BNP Paribas S.A., Jersey Branch, Company Secretary.




CVC Income & Growth Limited:                                                        44 (0)1534 625 522

Richard Boléat


BNP Paribas S.A., Jersey Branch:                                           




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 or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.





Latest RNS Updates

11 April 2024
Net Asset Value Weekly to 05 Apr 2024
Read update
10 April 2024
Notice of AGM
Read update
9 April 2024
Investor Presentation via Investor Meet Company
Read update
5 April 2024
Net Asset Value Weekly to 28 Mar 2024
Read update
2 April 2024
Net Asset Value Weekly to 22 Mar 2024
Read update
28 March 2024
Annual Financial Report
Read update
25 March 2024
Monthly Report
Read update
21 March 2024
Net Asset Value Weekly to 15 Mar 2024
Read update
15 March 2024
Net Asset Value Month End 29 Feb 2024
Read update
14 March 2024
Net Asset Value Weekly to 08 Mar 2024
Read update