31 January 2025
LEI: 213800B81BFJKWM2JV13
Octopus Renewables
Infrastructure Trust plc
("ORIT"
or the "Company")
Q4 2024 Dividend Declaration
and FY25 Increased Dividend Guidance
Q4
2024 Dividend Declaration
The Board of Octopus Renewables
Infrastructure Trust plc is pleased to declare an interim dividend
in respect of the period from 1 October 2024 to 31 December 2024 of
1.51 pence per ordinary share, payable on 28 February
2025 to shareholders on the
register at 14 February 2025 (the "Q4 2024 Dividend"). The
ex-dividend date will be 13 February 2025.
The Q4 2024 dividend is the final of
four dividends totalling 6.02 pence per Ordinary Share
(FY 2023: 5.79 pence per Ordinary Share) for the financial year to
31 December 2024 ("FY 2024"), meeting the Company's FY 2024
dividend target in full. The dividend is fully covered by cash
flows arising from the Company's portfolio of assets.
A portion of the Company's dividend
is designated as an interest distribution for UK tax purposes. The
interest streaming percentage for the Q4 2024 Dividend is
57.2%.
Increased Dividend Guidance for FY 2025
In line with the Company's
progressive dividend policy, the Board of Octopus Renewables
Infrastructure Trust plc is pleased to announce an increase in the
target dividend to 6.17p* per ordinary share for the financial year
from 1 January 2025 to 31 December 2025 ("FY 2025").
This increase of 2.5% over FY 2024's
dividend target is in line with the increase to the Consumer Price
Index (CPI) for the 12 months to 31 December 2024 and marks the
fourth consecutive year the Company has increased its dividend
target in line with inflation. The FY 2025 dividend target is
expected to be fully covered by cash flow generated from the
Company's operating portfolios.
Phil Austin, Chair of Octopus Renewables Infrastructure Trust
plc, commented: "The Board is
pleased to declare its final interim dividend for the financial
year which, combined with the three prior quarters, meets our FY
2024 target of 6.02 pence per Ordinary Share and delivers
shareholders with a yield of 8.9% at
yesterday's closing share price.
"We are also pleased to announce,
for the fourth consecutive year in a row, an increase in dividend
guidance in line with inflation. This is expected to be fully
covered by operating cash flows and demonstrates our commitment to
a progressive dividend policy."
For
further information please contact:
|
Octopus Energy Generation (Investment Manager)
Chris Gaydon, David Bird
|
Via Burson Buchanan or
orit@octopusenergygeneration.com
|
|
Peel Hunt (Broker)
Liz Yong, Luke Simpson, Huw Jeremy
(Investment Banking)
Alex Howe, Chris Bunstead, Ed
Welsby, Richard Harris, Michael Bateman (Sales)
|
020 7418 8900
|
|
Burson Buchanan (Financial PR)
Charles Ryland, Verity Parker, Samuel Adams
|
020 7466 5000
|
|
Apex Listed Companies Services (UK) Limited (Company
Secretary)
|
020
3327 9720
|
*The dividend target stated in this
announcement is a target only and not a profit forecast. There can
be no assurance that this target will be met, or that the Company
will make any distributions at all and it should not be taken as an
indication of the Company's expected future results. The Company's
actual returns will depend upon a number of factors, including but
not limited to the Company's net income and level of ongoing
charges. Accordingly, potential investors should not place any
reliance on this target and should decide for themselves whether or
not the target dividend is reasonable or achievable. Investors
should note that references in this announcement to "dividends" and
"distributions" are intended to cover both dividend income and
income which is designated as an interest distribution for UK tax
purposes and therefore subject to the interest streaming regime
applicable to investment trusts.
Notes to editors
About Octopus Renewables Infrastructure
Trust
Octopus Renewables Infrastructure
Trust ("ORIT") is a London-listed, closed-ended investment company
incorporated in England and Wales focused on providing investors
with an attractive and sustainable level of income returns, with an
element of capital growth, by investing in a diversified portfolio
of renewable energy assets in Europe and Australia. As an impact
fund, ORIT is helping accelerate the transition to net zero by
investing in green energy, whilst also contributing to a broader
set of UN Sustainable Development Goals through its impact
initiatives. ORIT's investment manager is Octopus Energy
Generation.
Further details can be found
at www.octopusrenewablesinfrastructure.com
About Octopus Energy Generation
Octopus Energy Generation is driving
the renewable energy agenda by building green power for the future.
Its specialist renewable energy fund management team invests in
renewable energy assets and broader projects helping the energy
transition, across operational, construction and development
stages. The team was set up in 2010 based on the belief that
investors can play a vital role in accelerating the shift to a
future powered by renewable energy. It has a 14-year track record
with approximately £6.7 billion of assets under management (AUM)
(as of 30 September 2024) across 19 countries and total 4.5GW.
These renewable projects generate enough green energy to power 2.6
million homes every year, the equivalent of taking over 1.4 million
petrol cars off the road. Octopus Energy Generation is the trading
name of Octopus Renewables Limited.
Further details can be found
at www.octopusenergygeneration.com
