Perpetual Credit Income Trust Monthly Distribution Announcement - September 2024
PCI (PCI) Share Update September 2024 Monday 23rd
Perpetual Credit Income Trust Announces Monthly Distribution
Perpetual Credit Income Trust (ASX: PCI) has announced a new monthly distribution for its fully paid ordinary units. Investors are set to receive AUD 0.00686536 per unit, with key dates and details provided below.
Instant Summary:
- Distribution amount: AUD 0.00686536 per unit.
- Ex Date: 27 September 2024.
- Record Date: 30 September 2024.
- Payment Date: 8 October 2024.
- DRP election date: 1 October 2024.
Distribution Details
Perpetual Credit Income Trust (PCI) has declared a distribution of AUD 0.00686536 per fully paid ordinary unit for the month ending 30 September 2024. The ex-date for this distribution is set for 27 September 2024, meaning investors must own the units before this date to be eligible for the payout.
The record date, which determines the list of eligible unit holders, is 30 September 2024. The payment date, when the distribution will be disbursed to investors, is scheduled for 8 October 2024.
Dividend Reinvestment Plan (DRP)
PCI also offers a Dividend Reinvestment Plan (DRP) for this distribution. The last date for DRP election is 1 October 2024 at 17:00:00. Under the DRP, investors can choose to reinvest their dividends to purchase additional units instead of receiving cash payments. The price for DRP units is calculated based on the Net Asset Value (NAV) of a unit as determined on the record date.
Additional Information
PCI has confirmed that no further approvals are required for this distribution. The distribution is unfranked, and tax component information will be provided in the standard AMMA statements on an annual basis post 30 June.
This announcement is expected to have a neutral to slightly positive impact on PCI's stock price. Regular distributions can enhance investor confidence and attract income-focused investors. However, the relatively small amount per unit may not significantly move the stock price.
Investor Reaction:
Analysts are likely to view this announcement as a routine update, reflecting the Trust's ongoing commitment to providing regular income to its investors. The DRP option may be seen as a positive feature, offering investors flexibility in how they receive their distributions.
Conclusion:
Investors should take note of the key dates associated with this distribution and decide whether to participate in the DRP. Staying informed about regular distributions can help in making strategic investment decisions. As always, monitoring the Trust's performance and market conditions is crucial.