The Smarter Web Company (AQUIS: SWC; OTCQB: TSWCF; FRA: 3M8) has confirmed a weekly preferred dividend of £0.2301 per share for the week ending 13 November 2026, maintaining the current annual preferred dividend rate of 12% on its MORE Preferred Shares.
The company announced that holders of its MORE Preferred Shares (TIDM: MORE; ISIN: GB00C0HJ0D12) will be entitled to the latest dividend according to the previously published payment timetable.
The shares will trade ex-dividend on Thursday, 12 November 2026, with the record date set for Friday, 13 November and payment scheduled for Monday, 30 November 2026.
The current preferred dividend rate is 12% per annum, calculated against a reference amount of £100 per Preferred Share. This equates to an annualised dividend entitlement of £12 per share at the present rate, although the Board retains the ability to vary the rate within the terms set out in the company’s prospectus.
The MORE Preferred Shares carry a cumulative, variable-rate preferential dividend, meaning unpaid dividend entitlements can accumulate in accordance with the terms attached to the shares.
They also provide a liquidation preference and allow the company to redeem the shares under the applicable provisions.
However, holders do not receive voting rights at general meetings, distinguishing the securities from the company’s ordinary shares.
As at the announcement date, 211,112 Preferred Shares were in issue, of which 109,362 shares were entitled to receive the forthcoming dividend.
A further 99,975 Preferred Shares are held by or on behalf of Tennyson Capital under the company’s at-the-market facility, while 1,775 shares are held in treasury.
Tennyson Capital has waived its dividend entitlement on the shares it holds under the facility until those shares are sold. Treasury shares do not carry dividend rights while held by the company.
Based on the 109,362 currently entitled shares and the declared payment of £0.2301 per share, the weekly dividend commitment is approximately £25,164, before any additional Preferred Shares become entitled through sales under the at-the-market facility.
The company expects to provide a further update on 12 November 2026 if additional Preferred Shares have been sold, potentially changing the number eligible for the distribution.
The 12% preferred dividend rate is not fixed indefinitely, with the Board permitted to adjust it within the parameters established in the prospectus published on 29 September 2026.
Any change must be announced through a Regulatory Information Service before the first record date to which the revised rate applies.
For investors, the latest announcement confirms the next scheduled cash distribution and provides clarity on the number of shares currently eligible to receive it.
The MORE Preferred Shares offer a different income and risk profile from ordinary equity, combining preferential dividend rights with limited governance participation and provisions allowing redemption by the company.
Although the current annual dividend rate is 12% of the £100 reference amount, an investor’s actual yield will depend on the price paid for the Preferred Shares, any future changes to the dividend rate and the company’s ability to meet its obligations.
The next key dates are 12 November for the ex-dividend date and any updated share eligibility announcement, 13 November for the record date, and 30 November for the scheduled dividend payment.
