Suspension of dividends

Under the terms of the Trust Distribution Procedures (TDP) the Trustee is obliged to commission a full actuarial review every five years. The next actuarial review is due to take place in September 2021. However, given the economic effect of the Covid-19 pandemic, the Trustee considers it prudent to commission an interim review which will focus on the Trusts’ investments.

As a result, there will be a suspension of all payments from the Trust for three months with effect from 1st October 2020 in accordance with clauses 3.2, 4.4 and 5.5.6 of the TDP. For the avoidance of doubt, the suspension will apply to second dividend payments.

In the interim, Proof of Claim forms should still be submitted to the Trust; whilst these will be processed any payments due will not be made until on or after 1st January 2021.

If you have any queries regarding this matter please do not hesitate to contact Andrea Crichton.