International Public Partnerships 2020 First Half Year Dividend (5239Y)
September 10 2020 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 5239Y
International Public Partnerships
10 September 2020
10 September 2020
2020 First 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 January 2020 - 30 June 2020
Distribution amount per share: 3.68 pence
Ex-dividend date: 17 September 2020
Dividend record date: 18 September 2020
Circulation of Scrip Election Forms and Circular: 5 October 2020
Last date to elect/revoke elections: 26 October 2020
Payment date/Allotment of scrip: 13 November 2020
Scrip Alternative in operation: Yes
The 2020 first half year distribution of 3.68 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.
2020 and 2021 Full Year Distributions
The Board of Directors reaffirms that it has established a
target for 2020 of 7.36 pence per share and announces a 2021 target
distribution of 7.55 pence per share, providing additional guidance
to investors as to the Company's future intentions and the overall
continued performance of its portfolio. 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. Whilst we currently have good
forward-visibility of cash flows generated by the Company's
investments given their predictability, we continue to monitor the
current Covid-19 related uncertainty.
Scrip Dividend Alternative
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 18 September 2020 with the scrip dividend circular being
mailed on or about 5 October 2020, 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 .
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.
ENDS.
For further information:
Erica Sibree/Amy Joslin +44 (0)20 7939 0558/0587
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
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 130 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 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 over 130 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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