HICL infrastructure declare aggregate dividend for the year at 8.25p per share
The HICL infrastructure Plc are on target to deliver aggregate target dividends of 8.25p per share for the current financial year and the Board re-affirmed the 8.45p per share target dividend guidance for the next financial year, ending 31 March 2021.
Other financial highlights include:
Resilient portfolio performance underpinning continued growth in Net Asset Value of 0.3p per share to 157.8p for the six months to 30 September 2019.
Portfolio optimisation remains a core focus, with two accretive investments and two strategic disposals delivering improvements in the Company's key portfolio metrics.
With a total return featuring strong inflation correlation, low sensitivity to deposit rate changes and a low correlation to UK GDP, HICL's portfolio provides a measure of mitigation against ongoing political uncertainty in the UK.
The infrastructure asset class continues to hold unique attractions for yield investors in a low interest rate environment; and HICL has market-leading, differentiated characteristics such as low single asset concentration, a well-diversified portfolio and a pipeline of opportunities for growth.
Steady share price progression over the period has seen the Company's shares move to a healthy premium to Net Asset Value reflecting renewed appetite for yield as a low interest rate environment persists; the increasing relevance of investments such as HICL that have a meaningful sustainability profile; and a more supportive political backdrop in the UK.
The Investment Manager continues to progress a healthy pipeline of core infrastructure opportunities including PPPs in Northern Europe and North America and regulated assets in selected geographies, including additional OFTOs.
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