International Public Partnership Ld 2018 Second Half Year Dividend (2454U)

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RNS Number : 2454U

International Public Partnership Ld

28 March 2019

2018 Second Half Year Dividend

The Board of International Public Partnerships Limited ("INPP"), the FTSE 250 listed infrastructure investment company, declares a distribution covering the period:

 
 Distribution period:              1 July 2018 - 31 December 
                                    2018 
 Distribution amount per           3.5 pence 
  share: 
 Ex-dividend date:                 11 April 2019 
 Dividend record date:             12 April 2019 
 Last date to elect/revoke         24 May 2019 
  elections: 
 Payment date/Allotment of         10 June 2019 
  scrip: 
 Scrip Alternative in operation:   Yes

The 2018 second half year distribution of 3.5 pence per share is in line with the target previously outlined by the 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 eligible INPP investors who wish to receive additional INPP securities in lieu of a cash payment. In line with prior dividends, the Company has implemented an online process, reducing the need for paperwork and allowing eligible INPP shareholders access to a web-based service to elect the scrip dividend alternative. Details will be sent to all eligible INPP shareholders on the register as at the record date for the dividend being 12 April 2019 with the scrip dividend circular being mailed on or about 3 May 2019, the terms of the scrip dividend alternative will also be available on the INPP website. Shareholders wishing to access the web-based service and receive electronic communications from the Company can do so at www.signalshares.com.

2019 and 2020 Full Year Distributions

The Board of Directors reaffirms that it has established a target for 2019 and 2020 distributions of 7.18 and 7.36 pence per share (respectively), providing additional guidance to investors as to the Company's future intentions. The targeted payments would represent a c.2.5% increase on the preceding distributions and would continue to be in line with the growth target indicated at the time of INPP's IPO in 2006.

Note: The above distribution guidance is provided by the Company in consultation with its Investment Advisor 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.

Enquiries:

 
 International Public Partnerships 
  Limited 
  Erica Sibree                          +44 (0)20 7939 0558 
  Amy Joslin                            +44 (0)20 7939 0587 
 FTI Consulting 
  Ed Berry                              +44 (0)20 3727 1046 
  Mitch Barltrop                        +44 (0)20 3727 1039

About International Public Partnerships:

International Public Partnerships ('INPP') is a listed infrastructure investment company which 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 130 infrastructure projects and businesses, including utility and transport businesses, transmission projects, schools, courts and police headquarters in the UK, Europe, Australia 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 over 120 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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