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Matrix VCTs Announce Significant Dividend Payments
4 March 2008: Matrix Income & Growth VCT (MIG) and Matrix Income & Growth 3 VCT (MIG 3) have both announced large increases in their dividends.
MIG VCT is paying a final income dividend of 1.4p per share, making a total of 2.4p per share for the year compared to 2.2p per share in the previous year. In addition, MIG is also paying a capital dividend resulting from the profitable sale of Ministry of Cake, of 6.4p per share. Therefore MIG Shareholders will receive a total dividend of 7.8p per share subject to shareholder approval at the AGM on 16 May 2008. This will bring the total dividends paid to investors in 2007 to 8.8p per share.
MIG 3 VCT has also announced an increase in dividends. It is proposing to pay a final income dividend of 1.5p per share bringing total income dividends for the year to 2.5p per share compared to 1.25p per share in the previous year.
All of these dividends should be tax free in the hands of the shareholders.
This year’s new offering from Matrix Private Equity Partners, the team who manage MIG and MIG 3, offers potential VCT investors the opportunity to invest in the Income & Growth VCT S Share issue. The S Share issue will be managed with the same objective and in similar investments to the MIG and MIG 3 VCTs which have shown the kinds of returns that are possible from this strategy; targeting Management Buy Outs in cash-generative businesses that have a clear and sustainable competitive advantage in their market in order to provide investors with a regular and growing income stream through tax free dividends.