Dividend Policy

IBT can now offer investors the unusual and attractive combination of growth and yield.


IBT recently announced the introduction of an annual dividend, equivalent to 4 per cent of IBT’s Net Asset Value as at the last day of the preceding financial year (31 August), to be payable through two equal distributions. The first interim dividend of 11.5p per share was declared on 13 December 2016 and will be paid to all shareholders on the register at the close of business on Friday 6 January 2017. The dividend will be paid on 31 January 2017. The final dividend is expected to be declared and paid in August 2017.


Dividend payment dateDividend amount
31 January 201813.5p per share
31 August 201711.5 p per share
31 January 201711.5 p per share

In the current environment of generally low and contracting income in the equity and debt markets, yield is attractive to investors, yet most yields are found in sectors where growth prospects are limited.  By paying a dividend from capital reserves, IBT is able to offer investors a dividend, while still investing in the biotech sector where the prospects for high growth remain for the foreseeable future.


Shareholder approval was granted at the General Meeting on 29 September 2016 and will be sought at each annual general meeting of the Company beginning with the annual general meeting to be held in 2017 for the dividend policy.