3i Infrastructure on track to meet FY dividend target

3i Infrastructure said it was on track to meet its annual dividend target as third quarter income fell in line with expectations.

The infrastructure investor reported £24m in income and non-income cash for the three months to December 31, in line with expectations, and down from £44m a year ago.

It added that it was on track to meet its full-year dividend target of 9.8p a share, up 6.5% year on year.

“We continued to retain liquidity at portfolio company level during the period, which reduced dividend income and non-income cash compared to last year,” the company said.

“Overall our portfolio continues to perform in line with our expectations,” the company said.

“Most of the companies have performed well, continuing to meet or exceed our expectations, notwithstanding the uncertain operating and economic conditions arising from the effects of the pandemic,” it added.