Perpetual Credit Income Trust - Monthly Dividend Distribution Announcement - 29 July 2024
PCI (PCI) Share Update July 2024 Monday 29th
Perpetual Credit Income Trust Announces Monthly Dividend Distribution
Perpetual Credit Income Trust (ASX: PCI) has announced a new monthly dividend distribution to its shareholders, effective from 29 July 2024.
Instant Summary:
- Dividend amount: AUD 0.00678344 per unit.
- Ex Date: 1 August 2024.
- Record Date: 2 August 2024.
- Payment Date: 14 August 2024.
- DRP election date: 5 August 2024.
Dividend Distribution Details
Perpetual Credit Income Trust (PCI) has declared a monthly dividend distribution of AUD 0.00678344 per ordinary unit fully paid. This announcement was made on 29 July 2024 and pertains to the financial period ending 31 July 2024.
The ex-date for this dividend is set for 1 August 2024, meaning that investors must own shares before this date to be eligible for the dividend. The record date, which determines the shareholders entitled to receive the dividend, is 2 August 2024. The payment date, when the dividend will be paid out, is scheduled for 14 August 2024.
Dividend Reinvestment Plan (DRP)
Perpetual Credit Income Trust also offers a Dividend Reinvestment Plan (DRP) for this distribution. Shareholders who wish to participate in the DRP must submit their election notices by 5 August 2024 at 17:00. The DRP allows shareholders to reinvest their dividend payments into additional units of the trust, providing an opportunity to compound their investments.
Additional Information
The dividend is unfranked, and the distribution amount per unit is estimated at this time. The final amount will be confirmed on 7 August 2024. Tax component information will be provided in the standard AMMA statements on an annual basis post 30 June.
This dividend announcement is likely to have a positive impact on Perpetual Credit Income Trust's stock price as it signals the trust's ongoing commitment to returning value to its shareholders. Regular dividend distributions can enhance investor confidence and attract income-focused investors. However, the relatively small dividend amount per unit may not significantly influence the broader market sentiment.
Investor Reaction:
Initial reactions from investors and analysts have been positive, with many appreciating the trust's consistency in providing monthly dividends. Some investors have expressed interest in the DRP as a means to reinvest their dividends and potentially increase their holdings over time.
Conclusion:
Investors should consider the benefits of the Dividend Reinvestment Plan and ensure they meet the necessary deadlines if they wish to participate. The ongoing monthly distributions from Perpetual Credit Income Trust provide a steady income stream, which can be an attractive feature for long-term investors.