HICL Infrastructure sticks to dividend target
HICL Infrastructure
122.80p
15:25 18/04/24
HICL Infrastructure reiterated its dividend target as the investment company reported rising asset values and shareholder returns in the first half.
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HICL Infrastructure Company Ltd
123.00p
15:24 18/04/24
Net asset value per share rose to 155.4p in the six months to the end of September from 152.3p six months earlier. Annualised total shareholder return was 9.8%.
Pretax profit rose to £139.2m from £104.1m a year earlier as income increased to £157.2m from £121.9m. HICL said it was on track to pay a dividend of 8.25p per share for the year to the end of March in line with its target.
Chairman Ian Russell said he expected HICL's inflation-linked returns to be attractive to investors with prices rising globally.
"I am pleased to report a strong result for the period, with a return to NAV growth and a cash covered dividend," Russell said. "The HICL portfolio's long-dated, inflation linked and predictable cashflows give the Board the confidence to re-affirm the 8.25p target dividend for the year."
HICL shares edged up 0.1% to 172.2p at 08:12 GMT.