21 Sep 2022

Interim Dividend Announcement


The Board of Hipgnosis Songs Fund Limited, are pleased to announce the Company's interim dividend (the 'Dividend') for the period from 1 April to 30 June 2022 in respect of the Ordinary shares.

Consistent with the dividend timetable set out in the last Annual Report, the Dividend of 1.3125 pence per Ordinary Share will be payable to Shareholders on the register as at 30 September 2022 with an associated ex-dividend date of 29 September 2022 and a payment date of 28 October 2022.

There are positive tailwinds for the Company due to the decision of the US Copyright Royalty Board (CRB) to confirm, and make retroactive, the CRB III increase in mechanical streaming royalty rates for songwriters and publishers between 2018 and 2022, and the anticipated refinance of the Company's credit facilities, which is expected to be completed in October 2022. Accordingly the Board continues to target paying an annual dividend of 5.25 pence per Ordinary Share for the financial period to 31 March 2023.

In addition, the Company announces that its Investment Adviser will host a Capital Markets Day following the publication of the interim results in early December 2022.

Further details of the Capital Markets Day will be notified in due course.