Caledonia rushes through divi payment

Date: Thursday 18 Feb 2010

Investment trust Caledonia Investments is joining the growing list of companies seeking to squeeze in a dividend payment ahead of a change in the tax rate for higher rate payers.

The board has declared a second interim dividend of 24.7p in lieu of a final dividend. The interim dividend will be paid on 30 March, whereas the company’s final dividend is usually paid in August.

Shareholders on the company’s share register on the close of business on 23 February will be eligible to receive the dividend.

Other companies pulling the same trick on Thursday included Poland-focused property find manager First Property, Abbey Protection, the legal and professional fees insurance products and services provider, and digital radio group UBC Media .

First Property has declared a second interim dividend of 0.72p, while Abbey Protection is paying a second dividend of 2.1p. UBC is paying 0.1536p in lieu of a final dividend.

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