John Laing Environmental Assets Grp Net Asset Value and Dividend Declaration (1063J)
August 15 2019 - 1:01AM
UK Regulatory
TIDMJLEN
RNS Number : 1063J
John Laing Environmental Assets Grp
15 August 2019
15 August 2019
JLEN ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Net Asset Value and Dividend announcement
NAV
JLEN, the listed environmental infrastructure fund, announces
its unaudited Net Asset Value ("NAV") as at 30 June 2019 and
interim dividend for the quarter ended on that date.
The Company's unaudited NAV as at 30 June 2019 was GBP511.7
million or 103.0 pence per share, compared to GBP520.3 million or
104.7 pence per share as at 31 March 2019. The main driver is
updated electricity and gas price forecast assumptions, which have
reduced the NAV by 1.7p per share. Other material assumptions
remain unchanged from the year end.
Portfolio update
For the quarter to 30 June 2019, generation for the solar
portfolio was marginally below budget which can be attributed to
slightly lower than average solar irradiation and an outage at
Branden Solar park which has now been rectified.
The anaerobic digestion ("AD") portfolio continued the positive
trend observed previously, outperforming the budget for the
period.
The wind portfolio was below budget reflecting poor wind
resource in the UK, a trend which has been reflected across the
industry. The performance was also impacted by the lower than
warranted availability of some of the windfarms with Senvion
turbines, due to the ongoing financial position of Senvion,
although this was anticipated and a provision made at the year
end.
In aggregate, the renewables portfolio saw generation c. 4%
below budget. The waste and wastewater assets have performed in
line with budget.
Dividend
The Company announces a quarterly interim dividend of 1.665
pence per share for the quarter ended 30 June 2019, in line with
the dividend target of 6.66p per share for the year to 31 March
2020, as set out in the 2019 Annual Report.
Dividend Timetable
Ex-dividend date 22 August 2019
Record date 23 August 2019
Payment date 20 September 2019
This announcement contains information that is inside
information for the purposes of the Market Abuse Regulation (EU)
No. 596/2014.
For further details contact:
Foresight Group 020 3667 8100
Chris Tanner
Chris Holmes
Winterflood Investment Trusts 020 3100 0000
Neil Langford
Chris Mills
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
JLEN aims to provide investors with an annual dividend that is
sustainable and increases in line with inflation. The target
dividend for the year to 31 March 2020 is 6.66 pence per share (1)
. The dividend is payable quarterly.
Further details of the Company can be found on its website
www.jlen.com
LEI: 213800JWJN54TFBMBI68
(1) These are targets only and not profit forecasts. There can
be no assurance that these targets will be met or that the Company
will make any distributions at all.)
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.
END
NAVGGUPPRUPBGMC
(END) Dow Jones Newswires
August 15, 2019 02:01 ET (06:01 GMT)
Jlen Environmental Assets (LSE:JLEN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Jlen Environmental Assets (LSE:JLEN)
Historical Stock Chart
From Apr 2023 to Apr 2024