International Public Partnerships 2023 First Half-Year Dividend (6972L)
07 Settembre 2023 - 8:00AM
UK Regulatory
TIDMINPP
RNS Number : 6972L
International Public Partnerships
07 September 2023
7 September 2023
2023 First Half-Year Dividend
The Board of International Public Partnerships Limited ('INPP',
'the Company'), the FTSE 250 listed infrastructure investment
company, declares the following distribution:
Distribution paid in respect 1 January 2023 - 30 June 2023
of the period:
Distribution amount per share: 4.06 pence
Ex-dividend date: 14 September 2023
Dividend record date: 15 September 2023
Payment date/Allotment of scrip: 17 November 2023
Scrip Alternative in operation: No. Please see further information
below.
Acknowledging the recent higher levels of inflation, the Company
has decided to increase its 2023 dividend target to 8.13 pence per
share, representing a 5% increase compared to the 2022 dividend.
Beyond 2023, the Board will keep the Company's dividend policy
under review, nevertheless, it is currently forecasting to continue
its long-term projected dividend growth rate of c.2.5%, such that
the 2024 dividend target is 8.33 pence per share. The dividend in
respect of the six months to 30 June 2023 is 4.06 pence per
share.
2023 and 2024 Full Year Distributions
The Board of Directors confirms that it has established a target
for 2023 and 2024 distributions of 8.13 and 8.33 pence per share,
respectively, providing additional guidance to investors as to the
Company's future intentions and the overall continued performance
of its portfolio.
Scrip Dividend Alternative
As at 6 September 2023, the Company's shares were trading at
128.8 pence per share, which is lower than the last published Net
Asset Value ('NAV') of 155.2 pence per share as at 30 June 2023.
Accordingly, the Board does not consider it to be in the best
interests of shareholders to offer a scrip dividend alternative on
this occasion. All shareholders entitled to receive a dividend of
4.06 pence per share on the record date (15 September 2023) will
receive their dividend in cash.
Note: The above distribution guidance is provided by the Company
in consultation with its Investment Adviser as a target only and is
not a profit forecast. There can be no assurance that this target
will be met or that the Company will make any distributions
whatsoever. The times and dates in this announcement are expected
times and dates only and are subject to change. The Board will
continue to review whether scrip dividends are appropriate for
future dividends. Any such changes will be notified to shareholders
through a regulatory information service.
For further information:
Erica Sibree
Amber Fund Management Limited +44 (0) 7557 676 499
About International Public Partnerships ('INPP'):
INPP is a listed infrastructure investment company that invests
in global public infrastructure projects and businesses, which
meets societal and environmental needs, both now, and into the
future.
INPP is a responsible, long-term investor in over 140
infrastructure projects and businesses. The portfolio consists of
utility and transmission, transport, education, health, justice and
digital infrastructure projects and businesses, in the UK, Europe,
Australia, New Zealand and North America. INPP seeks to provide its
shareholders with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists of approximately 180 staff who are responsible
for the management of, advice on and origination of infrastructure
investments.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
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END
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September 07, 2023 02:00 ET (06:00 GMT)
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