5 September 2024
2024 First Half-Year
Dividend
The Directors of the Company (the 'Board') of International Public Partnerships Limited ('INPP', the
'Company'), the FTSE 250
listed infrastructure investment company, declares the following
dividend:
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Dividend paid in respect of the
period:
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1 January 2024 - 30 June
2024
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Dividend amount per share:
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4.18 pence
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Ex-dividend date:
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12 September 2024
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Dividend record date:
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13 September 2024
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Payment date:
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19 December 2024
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Scrip alternative in
operation:
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No. Please see further information
below.
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2024 and 2025 dividend targets
The 2024 first half year dividend of
4.18 pence per share is in line with the target previously outlined
by the Board.
The target for the second and final
dividend in respect of 2024 is currently 4.19 pence per share and
is anticipated to be announced in March 2025 and paid in June 2025.
This would bring the total dividends paid in respect of 2024 to
8.37 pence per share which is in line with guidance provided
previously.
Beyond 2024, 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 2025 dividend target is 8.58
pence per share.
Increase in dividend frequency
The Board is pleased to announce
that, commencing in 2025, the Company intends to increase the
frequency of its dividend payments, from semi-annually to
quarterly. The second and final dividend in respect of 2024 is
anticipated to be announced in March 2025 and paid in June 2025.
This will be the final dividend paid on a six-monthly basis.
Following this, dividends will be paid quarterly, commencing with
the first of four interim dividends for the financial year 2025 in
September 2025.
Scrip dividend alternative
As at 4 September 2024, the
Company's shares were trading at 127.6 pence per share, which is
lower than the last published Net Asset Value ('NAV') of 149.5
pence per share as at 30 June 2024. 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 4.18 pence per share on the
record date (13 September 2024) 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:
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Erica Sibree/Amy Edwards
Amber Fund Management
Limited
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+44 (0) 7557 676 499 / (0) 7827 238
355
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About 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.