US Solar Fund PLC Q1 2022 Interim Dividend (6779M)
May 25 2022 - 2:00AM
UK Regulatory
TIDMUSF TIDMUSFP
RNS Number : 6779M
US Solar Fund PLC
24 May 2022
24 May 2022
US SOLAR FUND PLC ("USF" or the "Company")
Q1 2022 Interim Dividend
US Solar Fund Plc ( LON:USF (USD) / USFP (GBP) ) is pleased to
announce its Interim Dividend for the period ended 31 March 2022.
The Company will pay a dividend in the amount of 1.27 cents per
Ordinary Share. The dividend will be paid on 8 July 2022 to
Shareholders on the register as at the close of business on 17 June
2022. The ex-dividend date is 16 June 2022.
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 1.27 cents per
Ordinary Share, 1.27 cents is declared as dividend income with 0
cents treated as qualifying interest income.
This quarterly dividend is on track with the Company's target
full year dividend of 5.58 cents per share for 2022. The Company
expects to declare modestly lower quarterly dividends in the first
and second quarters and slightly higher quarterly dividends in the
third and fourth quarters due to the cash flow profiles of the
assets.
USF expects to continue covering dividends paid in 2022 with
operating cash flows.
For further information, please contact:
US Solar Fund
Whitney V oûte +1 718 230 4329
Cenkos Securities plc
James King
Tunga Chigovanyika
Will Talkington +44 20 7397 8900
Jefferies International Limited
Stuart Klein
Gaudi le Roux
Neil Winward +44 20 7029 8000
KL Communications +44 20 3995 6673
About US Solar Fund plc
US Solar Fund plc, established in 2019, listed on the premium
segment of the London Stock Exchange in April 2019 and has a
current market capitalisation of approximately $292m. The Company's
investment objective is to provide investors with attractive and
sustainable dividends with an element of capital growth by owning
and operating solar power assets in North America and other OECD
countries in the America.
The solar power assets that the Company acquires or constructs
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). The Company's portfolio currently consists of 42
operational solar projects with a total capacity of 493MWDC, all
located in the United States.
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 Pty Limited, which
also manages Australian Securities Exchange (ASX)-listed New Energy
Solar ( www.newenergysolar.com.au ). Combined, US Solar Fund and
New Energy Solar have committed approximately US$1.3 billion to 57
projects totalling 1.2GWDC.
NESM is owned by E&P Funds, the funds management division of
E&P Financial Group, an ASX listed company (ASX: EP1) with over
A$20 billion of funds under advice.
LEI: 2138007BIUWE7AHS5Y90
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END
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