The Board European Assets Trust board has confirmed that the Company's stated distribution policy of declaring, barring unforeseen circumstances, an annual dividend equivalent to six per cent of the net asset value per share at the end of the preceding year will be continued in 2020.
The net asset value per share increased over the year which will result in an increase in total dividends payable by the Company for 2020 to £0.0702 per share. This represents an increase of 17.2 per cent from the 2019 dividend of £0.0599 per share. The Board will now declare dividends in Sterling a change from the previous practice of declaring in Euro. This change will provide greater certainty of income for the overwhelming majority of the Company's shareholders who choose to receive their dividends in Sterling rather than Euro.
To attempt to manage any future Sterling/Euro exchange rate exposure which may arise from this change to the declared dividend currency, the Company may, in principle, enter into hedging contracts. This is a change to the Company's previously stated policy not to hedge currency risk.
The 2020 dividend will be paid in four equal instalments of £0.01755 on 31 January, 30 April, 31 July and 30 October 2020.
The January dividend payment of £0.01755 will be paid to shareholders on 31 January 2020, having an ex-dividend date of 16 January 2020 and a record date of 17 January 2020.
