International Public Partnerships 2020 Second Half Year Dividend (4123T)
March 25 2021 - 2:01AM
UK Regulatory
TIDMINPP
RNS Number : 4123T
International Public Partnerships
25 March 2021
25 March 2021
2020 Second Half Year Dividend
The Board of International Public Partnerships Limited ("INPP",
the "Company"), the FTSE 250 listed infrastructure investment
company, declares a distribution covering the period:
Distribution period: 1 July 2020 - 31 December 2020
Distribution amount per share: 3.68 pence
Ex-dividend date: 8 April 2021
Dividend record date: 9 April 2021
Circulation of Scrip Election 23 April 2021
Forms and Circular:
Last date to elect/revoke elections: 14 May 2021
Payment date/Allotment of scrip: 4 June 2021
Scrip Alternative in operation: Yes (subject to the average of the
middle market prices of the Company's
Shares derived from the Daily Official
List of the London Stock Exchange
for the Ex-Dividend Date and the
four subsequent dealing days being
at a premium to the last published
NAV calculated on a per share basis)
The 2020 second half year distribution of 3.68 pence per share
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.
2020 and 2021 Full Year Distributions
The Board of Directors reaffirms that it has established a
target for 2021 of 7.55 pence per share and today announces a 2022
target distribution of 7.74 pence per share, 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. Whilst we
currently have good forward-visibility of cash flows generated by
the Company's investments given their predictability, we continue
to monitor the current Covid-19 related uncertainty.
Scrip Dividend Alternative
The Board intend to offer a scrip dividend alternative for this
distribution to those eligible INPP investors who wish to receive
additional INPP securities in lieu of a cash payment. This offer is
subject to the average of the middle market prices of the Company's
shares derived from the Daily Official List of the London Stock
Exchange for the Ex-Dividend Date and the four subsequent dealing
days being at a premium to the last published NAV calculated on a
per share basis. In line with prior dividends, the Company has
implemented an online process, reducing the need for paperwork and
allowing eligible INPP shareholders access to a web-based service
to elect the scrip dividend alternative. Details will be sent to
all eligible INPP shareholders on the register as at the record
date for the dividend being 9 April 2021 with the scrip dividend
circular being mailed on or about 23 April 2021, the terms of the
scrip dividend alternative will also be available on the INPP
website. Shareholders wishing to access the web-based service and
receive electronic communications from the Company can do so at
www.signalshares.com .
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)20 7939 0558/0587
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
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 130 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 Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists of approximately 135 staff who are responsible
for the management of, advice on and origination of infrastructure
investments.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVKZGZFLDLGMZM
(END) Dow Jones Newswires
March 25, 2021 03:01 ET (07:01 GMT)
International Public Par... (LSE:INPP)
Historical Stock Chart
From Mar 2024 to Apr 2024
International Public Par... (LSE:INPP)
Historical Stock Chart
From Apr 2023 to Apr 2024
