3i Infractructure increases its 2014 interim dividend by 0.8%

DividendMax Ltd.

3i Infractructure increases its 2014 interim dividend by 0.8%


Strong net asset value progression - £117.4 million total return for the first half of the year (10.8% on opening net asset value) driven by the performance of the European portfolio and in particular the valuation uplift of the rolling stock investments

Portfolio income of £32.6 million, in line with the prior comparable six-month period

Good momentum in primary PPP investment - £12.6 million committed to three new primary PPP investments in the UK and the Netherlands; achieved preferred bidder stage on a further three project investments, with total commitments expected to be approximately £50-60 million

Interim dividend in line with target distribution - interim dividend of 3.38 pence per share (or £29.8 million in aggregate) representing 2.75% of opening net asset value, in line with our annual objective of 5.5%

Peter Sedgwick, Chairman of 3i Infrastructure plc, said: "The Company generated a very strong return in the first half of the year, supported by the robust performance of the assets in its European portfolio. As we go into the second half of the year, we have a healthy pipeline of Core infrastructure and primary project investments."

Ben Loomes and Phil White, Managing Partners and Co-heads, Infrastructure,
3i Investments plc, added: "The portfolio produced a strong return in the period, but we remain focused on long-term performance. The Company's portfolio has delivered a 16% annualised asset IRR since IPO, from a combination of capital growth, income generation and profits from realisations. We continue to focus on building a portfolio of Core infrastructure and primary project investments which, together, can deliver attractive returns for shareholders."

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