Perpetual Equity Investment Company (ASX:PIC) will shift to monthly dividend payments from a semi-annual schedule, with the first monthly payout expected in December, according to a Monday filing with the Australian bourse.

The company said it will continue making quarterly announcements to provide record and payment dates for each monthly dividend.

In connection with the change, the company's dividend reinvestment plan will be suspended after the payment of a final semi-annual dividend in October.

The transition aims to provide a more consistent and predictable income stream for investors without changing Perpetual Equity's investment strategy or return objective, it said.