ALTIN AG, the Swiss alternative investment company listed on the London and Swiss stock exchanges, has announced a change in its dividend policy. Whereas until now the company did not pay any dividend, the Board of Directors intends to propose each year to the Annual General Meeting that a dividend equivalent of 4% of the Net Asset Value (NAV) be paid.
Furthermore an additional distribution would be offered to shareholders, of 20% of the annual performance exceeding 4%. These amounts would be paid out of share premium reserves.
In order to make the company more attractive to investors, the Board of Directors proposes to change the company’s dividend policy and to pay the shareholders a particularly high dividend. Thus the Board would propose to each Annual General Meeting that a dividend equivalent to 4% of the NAV be paid, provided that the legal requirements are met. In view of the current share price (USD 45.50 on 22 November 2011), the return offered by the dividend would thus amount to more than 5.7%, which makes ALTIN a particularly attractive investment.
Furthermore, should the investment performance be higher than 4% of the NAV during the previous financial year, an additional distribution corresponding to 20% of the excess performance would be proposed to the shareholders.