International Public Partnerships 2022 Second Half-Year Dividend (6904U)
March 30 2023 - 2:01AM
UK Regulatory
TIDMINPP
RNS Number : 6904U
International Public Partnerships
30 March 2023
30 March 2023
2022 Second 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 July 2022 - 31 December 2022
of the period:
Distribution amount per share: 3.87 pence
Ex-dividend date: 6 April 2023
Dividend record date: 11 April 2023
Payment date: 7 June 2023
The 2022 second half-year distribution of 3.87 pence per share
[i] 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.
2023 and 2024 Full Year Distributions
The Board of Directors reaffirms that it has established a
target for 2023 and 2024 distributions of 7.93 and 8.13 pence per
share, respectively, 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.
Scrip Dividend Alternative
As at 29 March 2023, the Company's shares were trading at 141.8
pence per share, which is lower than the last published Net Asset
Value ('NAV') of 159.1 pence per share as at 31 December 2022.
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
3.87 pence per share on the record date (11 April 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/ Amy Edwards +44 (0) 7557 676 499/ +44 (0) 7827 238
355
Amber Fund Management Limited
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 138 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 Fund Management Limited ('AFML'), the Investment Adviser
to INPP, is part of the Amber Infrastructure Group ('Amber') which
consists of approximately 170 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.
[i] The dividend in respect of H2 2022 is 3.87 pence per share
bringing the total dividend paid in respect of 2022 in line with
the guidance of 7.74 pence per share.
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END
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