The Company’s Dividend Re-Investment Scheme (“DRIS”) has proved extremely effective in allowing Shareholders the opportunity to re-invest dividends in the Company and this has led to a regular and consistent re-investment by many Shareholders. DRIS Shares are issued at the last reported net asset value in line with all other generalist VCTs that operate a DRIS, or equivalent. The BSC DRIS provides investors a tax efficient way of building up their shareholding as an alternative to receiving dividends in cash.
* as adjusted for the relevant dividend, if this has not already been recognised.
The chart below shows the returns received by investors over the last 5 years to 31 December 2020 based on an initial investment of £10,000. In each case the first bar shows the return of an investor receiving cash dividends and the second bar an investor choosing to re-invest their dividends under the terms of the DRIS, thereby receiving additional shares, additional dividends on those shares and the associated tax reliefs.