2010 Second Half Dividend (5531C)

TIDMINPP

RNS Number : 5531C

International Public Partnership Ld

09 March 2011

9 March 2011

International Public Partnerships Limited

2010 SECOND HALF DIVIDEND

The Board of International Public Partnerships Limited (INPP) declares a distribution covering the period 1 July 2010 to 31 December 2010.

 
 Distribution period:                   1 July 2010 - 31 December 
                                         2010 
=====================================  ========================== 
 Distribution amount per share:         2.85 pence 
=====================================  ========================== 
 Ex-dividend date:                      16 March 2011 
=====================================  ========================== 
 Dividend record date:                  18 March 2011 
=====================================  ========================== 
 Last date to elect/revoke elections:   21 April 2011 
=====================================  ========================== 
 Payment date/Allotment of scrip:       6 May 2011 
=====================================  ========================== 
 Scrip Alternative in operation:        Yes 
=====================================  ==========================

The 2010 full year distribution of 5.70 pence per share is in line with the target previously outlined by Directors and, as per previous periods, has been entirely funded through operating cash flow from the underlying projects.

The Board intend to offer a scrip dividend alternative for this distribution to those investors who wish to receive additional INPP securities in lieu of a cash payment. A circular will be sent to shareholders explaining the terms of the scrip dividend alternative. It is intended that the circular together with scrip dividend election forms will be mailed on or about 25 March 2011 to all eligible INPP shareholders on the register as at the record date for the dividend being 18 March 2011. The scrip dividend election forms will need to be completed and returned to Capita Registrars by 21 April 2011 by those investors who wish to receive shares in lieu of cash.

2011 Distribution

In December, the Board of Directors provided indicative guidance for the target 2011 distribution of 5.85 pence per share which, if achieved, would be a 2.6% increase on the 2010 distribution and the fourth consecutive year INPP has increased distributions above the 2.5% growth target indicated at the time of INPP's IPO in 2006. The Board today reconfirms this guidance. The first half of the 2011 distribution which is targeted to be 2.925 pence per share is expected to be paid in October 2011.

Note: The above distribution guidance is a target only and 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. Any such changes will be notified to shareholders through a regulatory information service.

For further information:

Bianca Francis +44 (0)20 7939 0558 Amber Fund Management Limited

Hugh Jonathan/Nick Westlake +44 (0)20 7260 1263/1345 Numis Securities

Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297 Financial Dynamics

Notes to Editors:

About International Public Partnerships (INPP):

International Public Partnerships Limited (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP) and private finance initiative (PFI) procurement methods.

Listed in 2006, INPP is a long-term investor in 54 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters and transport projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term government-backed yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of more than 50 dedicated infrastructure specialists which originate and source a strong pipeline of projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

This information is provided by RNS

The company news service from the London Stock Exchange

END

DIVDKFDBQBKDNNK

International Public Par... (LSE:INPP)
Historical Stock Chart
From Jun 2024 to Jul 2024