Business
Dividend Declaration
Palace Capital PLC has declared a dividend of 3.75 pence per ordinary share, to be paid as a Property Income Distribution (PID), which will reduce the outstanding balance of approximately £2.7 million in property rental business profits that must be paid to shareholders. The Board has decided against paying future dividends that are not covered by earnings, aiming to prevent shareholders from receiving a prepayment of net asset value. The dividend is ex-dividend on March 26, 2026, with a record date of March 27, 2026, and a payment date of April 21, 2026. Disclaimer*
About this update from Palace Capital Plc
[{"type":"text","content":"\n\n19 March 2026 LEI: 2138009JDFQOXJFCJQ05\n\nPalace Capital PLC\n (\"Palace Capital\" or the \"Company\")\n\nDeclaration of Dividend\n \nThe Board of Directors (the \"Board\") of Palace Capital has reviewed the detail behind the dividends paid historically by the Company and notes that the Company was declaring dividends each quarter which were typically in excess of the Company's EPRA earnings per share. To the extent that such dividends were not covered by profits earned, they resulted in shareholders effectively receiving a prepayment of the net asset value of their shares which the Board does not consider to be in shareholders' best interests.\n \nIn addition, the Company had previously mistakenly paid some dividends as a Non-Property Income Distribution (\"Non-PID\") even though these should have been paid as a Property Income Distribution (\"PID\"). Due to the mistake, the Company has a historic balance of approximately £2.7m[1] of property rental business profits that it must, at some point, pay to shareholders as a PID.\n \nThe Company has already distributed all of its property rental business profits for the financial year ended 31 March 2025 and more than its estimated property rental business profits for the nine months ended 31 December 2025.\n \nWhile the Board of Palace Capital has decided not to pay uncovered dividends in the future, it today announces that it has declared a dividend of 3.75 pence per ordinary share which will be paid as a PID. This dividend is in line with previous distributions and reduces the balance of unpaid property rental business profits further.\n \nThe dividend is payable to shareholders on the register of members at the close of business on the Record Date.\n \nThe dividend timetable is as follows:\n \n• Ex-Dividend Date: Thursday 26 March 2026\n• Record Date: ...