US Solar Fund PLC Q2 2020 Interim Dividend (4214B)

TIDMUSF TIDMUSFP

RNS Number : 4214B

US Solar Fund PLC

08 October 2020

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8 October 2020

US SOLAR FUND PLC (USF, the "Company")

Q2 2020 Interim Dividend

US Solar Fund Plc ( LON:USF (USD) / USFP (GBP) ) is pleased to announce its Interim Dividend for the period ended 30 June 2020. As mentioned in the Company's announcement on 16 September 2020, the Company will pay a dividend in the amount of 0.50 cents per Ordinary Share. The dividend will be paid on 20 November 2020 to Shareholders on the register as at the close of business on 30 October 2020. The ex-dividend date is 29 October 2020.

Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 0.50 cents per Ordinary Share, 0.49 cents is declared as dividend income with 0.01 cents treated as qualifying interest income.

USF expects to cover the remaining 2020 dividends with operating cashflows and continues to be in a strong position to commence its 2021 annual dividend target of 5.5 cents per Ordinary Share.

This 0.50 cents per Ordinary Share dividend represents an annualised dividend yield of 2.00% when measured against the initial issue price of $1 per share.

For further information, please contact:

 
US Solar Fund 
 Whitney V oûte              +1 718 230 4329 
Cenkos Securities plc 
 Will Rogers 
 Rob Naylor 
 Will Talkington                  +44 20 7397 8900 
Jefferies International Limited 
 Stuart Klein 
 Neil Winward 
 Gaudi le Roux                    +44 20 7029 8000 
KL Communications                 +44 20 3995 6673 
Charles Gorman 
 Charlotte Stickings

About US Solar Fund plc

US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

The Company acquires or constructs, owns and operates solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk .

About the Investment Manager

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$900m to US and Australian solar plants since late 2015.

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX listed company (ASX: ED1) with over A$21 billion of funds under advice.

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