Welcome to Tetragon Financial Group Limited ("TFG")

Please read the Terms of Use below carefully. You must accept these terms before you can proceed.

TERMS OF USE OF THIS WEBSITE

Compliance with Applicable Laws and Regulations

The information on this website is for information purposes only. It does not constitute an offer to sell any security or investment product, nor does it constitute professional advice. Any product and service mentioned in this website are not offered to any person or entity in any jurisdiction or country where the advertisement, offer, solicitation, provision or sale of such product and service is restricted or prohibited by law or regulation or where TFG or any of its respective affiliates would be subject to any regulation or licensing requirement.

Users of this website are responsible for observing all applicable laws and regulations in their relevant jurisdictions before proceeding to access the information contained herein. By proceeding to access the information, users are deemed to have represented and warranted that the applicable laws and regulations of their relevant jurisdiction allow them to do so. No information contained on this website constitutes or would be deemed to constitute an invitation in any jurisdiction to invest or otherwise deal in the shares of TFG.

Restrictions on Ownership by U.S. Persons

The shares in TFG have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"). Consequently, shares in TFG may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, "U.S. persons" as defined in Regulation S under the Securities Act absent registration or an exemption from registration under the Securities Act. No public offering of any shares in TFG is being, or has been, made in the United States.

In addition, TFG has not been and will not be registered under the United States Investment Company Act of 1940, as amended (the "Investment Company Act"). Direct or indirect beneficial ownership of securities issued by TFG by any U.S. person who is not a "qualified purchaser" as defined in the Investment Company Act and applicable rules thereunder is prohibited. Under TFG's Articles of Association (the "Articles"), the directors of TFG may in certain circumstances compel the transfer of any TFG shares owned directly or beneficially by any person who is not a "qualified purchaser".

Furthermore, shares of TFG may not be held by any "benefit plan investor" that is subject to Title I of the United States Employee Retirement Income Security Act of 1974, as amended. The Articles prohibit any ERISA Person (as defined in the Articles) from acquiring or holding shares of TFG. The consequences of failing to comply with this prohibition include the divestment of the relevant shares and the forfeiture of any dividends previously received with respect to such shares, as well as any gains from their disposition.

No Representation, Warranty or Reliance

No representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of any information contained on this website. TFG undertakes no duty to update any such information. Nothing contained on this website constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

The information and opinions contained in this website are provided without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. Neither TFG nor any of its affiliates further assumes any responsibility for, and makes any warranties that, information and supplies contained on this website will be uninterrupted or error-free, that defects will be corrected, or that this website or the servers that make it available will be free of viruses or other harmful components.

Forward-Looking Statements

Nothing in this website is, or should be relied on as, a promise or representation as to the future. This website contains forward-looking statements, which reflect the views of TFG with respect to, among other things, TFG's operations. Investors can identify these forward-looking statements by the use of words such as "believe", "expect", "potential", "continue", "may", "will", "should", "seek", "approximately", "predict", "intend", "plan", "estimate", "anticipate" or other comparable words. These forward-looking statements are subject to various risks, uncertainties and assumptions. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Should any assumptions underlying the forward-looking statements contained on this website prove to be incorrect, the actual outcome or results may differ materially from outcomes or results projected in these statements. Neither TFG nor any of its affiliates undertakes any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law or regulation.

Linked Sites

TFG has not reviewed any website linked to this website and TFG is not responsible for the contents of off-site pages or any other websites linked or linking to this website. If you follow any links off this website you do so at your own risk.

Links to this website may not be established without the prior written consent of TFG.

Liability Waiver

To the maximum extent permitted by applicable law, you agree that under no circumstances, including, but not limited to, negligence, shall TFG or any of its affiliates be liable for any direct, special or consequential damages that result from the access or use of, or the inability to access or use, the materials on this website.

If you proceed to access the information included in this website, you acknowledge that you have read and agree with the above Terms of Use.

Dividends and Other Distributions

TFG seeks to return value to its shareholders, including through dividends and share repurchases.

Dividends:

TFG pursues a progressive dividend policy with a target payout ratio of 30-50% of normalised earnings, based on the long-term target return on equity of 10-15%.(i)

TFG’s Board of Directors has the authority to declare dividend payments, based upon the recommendation of TFG’s investment manager, subject to the approval of TFG’s voting shareholder and adherence to applicable law, including the satisfaction of a solvency test as required pursuant to the Companies (Guernsey) Law, 2008, as amended.

TFG’s investment manager’s recommendation with respect to the declaration of dividends (and other capital distributions) may be informed by a variety of considerations, including (i) the expected sustainability of the company’s cash generation capacity in the short and medium term, (ii) the current and anticipated performance of the company, (iii) the current and anticipated operating and economic environment and (iv) other potential uses of cash ranging from preservation of the company’s investments and financial position to other investment opportunities.

TFG may also pay scrip dividends, which payments are currently conducted through an optional dividend reinvestment program. If TFG’s Board of Directors declares a cash dividend, it will also (as the Board of Directors of the TFG Master Fund) declare an equal dividend per share payable concurrently by the TFG Master Fund.

Current Dividend Information

On 27 October 2016, TFG’s Board of Directors announced a dividend, to be paid in cash or in newly issued non-voting shares, of U.S. $0.1675 per share in respect of the third quarter of 2016. The ex-dividend date is 31 October 2016. The record date is 1 November 2016. Payment of the dividend in cash and/or the delivery of shares in lieu of cash will take place on 25 November 2016.

During the election period, shareholders can elect to receive their dividend in shares. If no choice is made, the dividend will be paid in cash. The election period is from 2 November to 11 November 2016, with the payment date on 25 November 2016.

The reference price for shares delivered in lieu of cash is U.S. $11.09, resulting in a conversion ratio of one newly issued share for every 66.2090 dividend rights held.  The reference price is based on the volume-weighted average of the trading prices of a non-voting share on Euronext Amsterdam N.V. for the five-day trading period (treated as a single period) from 31 October 2016 to 4 November 2016.

Tax consequences of receiving the interim dividend may vary upon the tax residence of the shareholder. For further information on the Optional Stock Dividend Plan, please refer to the brochure.

Optional Stock Dividend Plan

TFG has announced the implementation of an Optional Stock Dividend Plan in respect of dividend payments, which gives shareholders the option to elect to receive any declared dividends in the form of additional TFG shares. In the Board of Director’s discretion, this may be made available to shareholders for future periods. Please refer to the brochure for more information.

(i)LIBOR directly flows through some of TFG’s investments and, as it can be seen as the risk-free short-term rate, it should affect all of TFG’s investments. In high-LIBOR environments, TFG should achieve higher sustainable returns; in low-LIBOR environments, TFG should achieve lower sustainable returns.

Dividend Period Declared Date Ex-Date Record Date Payment Date Dividend (USD) Conversion Ratio
Q3 2016 28 Oct 2016 31 Oct 2016 1 Nov 2016 25 Nov 2016 $0.1675 66.2090
Q2 2016 28 Jul 2016 29 Jul 2016 1 Aug 2016 24 Aug 2016 $0.1675 60.3582
Q1 2016 28 Apr 2016 29 Apr 2016 2 May 2016 24 May 2016 $0.1650 59.6970
Q4 2015 26 Feb 2016 29 Feb 2016 01 Mar 2016 23 Mar 2016 $0.1650 52.3636
Q3 2015 29 Oct 2015 11 Nov 2015 12 Nov 2015 03 Dec 2015 $0.1625 61.6615
Q2 2015 30 Jul 2015 31 Jul 2015 03 Aug 2015 25 Aug 2015 $0.1625 65.3538
Q1 2015 30 Apr 2015 04 May 2015 05 May 2015 26 May 2015 $0.1575 61.9048
Q4 2014 26 Feb 2015 27 Feb 2015 02 Mar 2015 23 Mar 2015 $0.1575 64.0000
Q3 2014 30 Oct 2014 31 Oct 2014 03 Nov 2014 24 Nov 2014 $0.1550 66.7742
Q2 2014 30 Jul 2014 31 Jul 2014 04 Aug 2014 22 Aug 2014 $0.1550 67.8065
Q1 2014 30 Apr 2014 02 May 2014 06 May 2014 26 May 2014 $0.1500 68.3333
Q4 2013 27 Feb 2014 28 Feb 2014 04 Mar 2014 24 Mar 2014 $0.1500 72.4667
Q3 2013 30 Oct 2013 31 Oct 2013 04 Nov 2013 22 Nov 2013 $0.1400 69.2857
Q2 2013 30 Jul 2013 01 Aug 2013 05 Aug 2013 23 Aug 2013 $0.1400 75.9286
Q1 2013 30 Apr 2013 02 May 2013 06 May 2013 24 May 2013 $0.1350 82.0000
Q4 2012 28 Feb 2013 01 Mar 2013 05 Mar 2013 25 Mar 2013 $0.1350 82.6667
Q3 2012 26 Oct 2012 29 Oct 2012 31 Oct 2012 20 Nov 2012 $0.1150 77.6522
Q2 2012 31 Jul 2012 01 Aug 2012 03 Aug 2012 27 Aug 2012 $0.1150 65.2174
Q1 2012 25 Apr 2012 26 Apr 2012 30 Apr 2012 22 May 2012 $0.1050 74.0952
Q4 2011 05 Mar 2012 06 Mar 2012 08 Mar 2012 28 Mar 2012 $0.1050 65.0476
Q3 2011 27 Oct 2011 28 Oct 2011 01 Nov 2011 22 Nov 2011 $0.1000 64.7000
Q2 2011 29 Jul 2011 01 Aug 2011 03 Aug 2011 26 Aug 2011 $0.1000 72.3000
Q1 2011 28 Apr 2011 29 Apr 2011 03 May 2011 24 May 2011 $0.0900 84.0000
Q4 2010 01 Mar 2011 02 Mar 2011 04 Mar 2011 25 Mar 2011 $0.0900 89.1111
Q3 2010 29 Oct 2010 01 Nov 2010 03 Nov 2010 24 Nov 2010 $0.0800 71.1250
Q2 2010 02 Aug 2010 03 Aug 2010 05 Aug 2010 26 Aug 2010 $0.0800 53.6250
Q1 2010 28 Apr 2010 29 Apr 2010 03 May 2010 26 May 2010 $0.0600 86.8333
Q4 2009 26 Feb 2010 01 Mar 2010 03 Mar 2010 25 Mar 2010 $0.0600 65.3333
Q3 2009 22 Oct 2009 23 Oct 2009 27 Oct 2009 18 Nov 2009 $0.0300 83.3333
Q2 2009 30 Jul 2009 31 Jul 2009 04 Aug 2009 24 Aug 2009 $0.0300 36.3333
Q1 2009 24 Apr 2009 27 Apr 2009 29 Apr 2009 21 May 2009 $0.0300 34.3333
Q4 2008 26 Feb 2009 27 Feb 2009 03 Mar 2009 25 Mar 2009 $0.0300 32.0000
Q3 2008 22 Oct 2008 23 Oct 2008 27 Oct 2008 18 Nov 2008 $0.1500 24.6667
Q2 2008 31 Jul 2008 01 Aug 2008 05 Aug 2008 26 Aug 2008 $0.1500 39.8000
Q1 2008 22 Apr 2008 23 Apr 2008 25 Apr 2008 19 May 2008 $0.1500 31.7333
Q4 2007 28 Feb 2008 29 Feb 2008 04 Mar 2008 27 Mar 2008 $0.1500 40.8000
Q3 2007 18 Oct 2007 19 Oct 2007 23 Oct 2007 15 Nov 2007 $0.1500 54.4667
Q2 2007 31 Jul 2007 01 Aug 2007 03 Aug 2007 27 Aug 2007 $0.1500 54.6667
Dividends and Other Distributions
Title PDF
Tetragon Financial Group Limited Optional Stock Dividend Plan Brochure

Contact Us

For further information on TFG please contact our IR team:

+44 20 7901 8328