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BlackRock Advisors (UK) Limited, which is authorised and controlled by the Financial Conduct Authority (‘FCA’), registered office at 12 Throgmorton Avenue, London, EC2N 2DL, England, Tel + . iShares plc, iShares II plc, iShares III plc, iShares IV plc, iShares V plc, iShares VI plc and iShares VII plc (together ‘the Companies’) are open-ended funding corporations with variable capital having segregated legal responsibility between their funds organised beneath the laws of Ireland and authorised by the Central Bank of Ireland. The German domiciled funds are “undertakings for collective investment in transferable securities” in conformity with the directives within the which means of the German Law on the investments. These funds are managed by BlackRock Asset Management Deutschland AG which is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Shareholders have access to the Board by way of the Company Secretary and the Investment Manager throughout the year. These communications help the Board make informed selections when contemplating the way to promote the success of the Company for the benefit of shareholders. This 12 months, the Annual General Meeting to be held on 9 September 2020 is to be closed to shareholders owing to the Covid-19 pandemic and solely Directors will attend.

  1. None of the Directors has a contract of service with the Company, nor has there been any contract or arrangement between the Company and any Director at any time during the 12 months.
  2. The Directors’ emoluments table beneath subsequently does not embody columns for any of these items or their financial equivalents.
  3. There is not any discover interval and no provision for compensation upon lack of workplace.
  4. Also, no Director has any proper to any fee by the use of financial equal, or any property of the Company besides in their capacity as shareholders.
  5. Directors who’ve served on the Board for more than nine years must supply themselves for re-election on an annual basis.

Under the Articles of Association, one-third of Directors is required to retire by rotation at every AGM and no Director shall serve a term of greater than three years before re-election. The Board has reviewed the appointment of those Directors retiring on the forthcoming AGM. Lord Lamont, Mr Myles and Mr van Heesewijk will provide themselves for re-election, having served on the Board for over nine years. The Board recommends that shareholders vote for the re-election of Lord Lamont, Mr Myles and Mr van Heesewijk as it believes their contributions to the Board to be effective, that they demonstrate commitment to their roles as non-govt Directors of the Company and have actively contributed throughout the year.

‘FTSE®’ is a commerce mark jointly owned by the London Stock Exchange plc and the Financial Times Limited (the ‘FT’) and is used by FTSE International Limited (‘FTSE’) under licence. The FTSE BRIC 50 Index, FTSE China 25 Index, FTSE one hundred Index, FTSE 250 Index, FTSE UK Dividend + Index, FTSE UK Conventional Gilts – Up To 5 Years Index and FTSE Actuaries Government Securities UK Gilts All Stocks Index are calculated by or on behalf of FTSE International Limited (‘FTSE’). All copyright and database rights within the index values and constituent listing vest in FTSE.

This spread creates a well diversified portfolio which can, sooner or later, result in a robust return of dividend income and subsequently regular income development and, in time, capital development. At this time the present underlying portfolio yield is very exhausting to gauge, for apparent causes. However, on account of the policy over the previous ten years of growing the annual dividend and retaining to income reserves the maximum permitted underneath the laws referring to investment trusts, the Company is in a robust position and will pay its dividend for a while from accrued reserves.

Chelverton UK Dividend Trust PLC is a public company, limited by shares, domiciled and registered in the UK. The consolidated monetary statements for the year ended 30 April 2020 comprise the financial statements of the Company and its subsidiary SDVP (together known as the ‘Group’). The Directors are answerable for the integrity of the information relating to the Company on the Investment Manager’s web site. Legislation in the UK governing the preparation and dissemination of economic statements differs from legislation in different jurisdictions.

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