SDCL Energy Efficiency Income Tst Dividend Declaration & Dividend Forward Guidance (1053R)
March 04 2021 - 1:00AM
UK Regulatory
TIDMSEIT
RNS Number : 1053R
SDCL Energy Efficiency Income Tst
04 March 2021
4 March 2021
SDCL Energy Efficiency Income Trust plc
("SEEIT" or the "Company")
Interim Dividend Declaration and Target Dividend Forward
Guidance
Interim Dividend
SDCL Energy Efficiency Income Trust plc is pleased to announce
the third quarterly interim dividend in respect of the three month
period ended 31 December 2020 of 1.375 pence per Ordinary Share.
The shares will go ex-dividend on 11 March 2021 and the dividend
will be paid on 31 March 2021 to shareholders on the register as at
the close of business on 12 March 2021.
Target Dividend Forward Guidance
Having reviewed with the Investment Manager the future cash flow
projections from the Company's current portfolio in the near and
medium term, the Board is pleased to report that the Company will
target an annual dividend of 5.62 pence per Ordinary Share for the
12 month period commencing 1 April 2021 and a progressive dividend
thereafter*. The annual dividend target will continue to be paid in
equal quarterly instalments.
For Further Information
Sustainable Development Capital T: +44 (0) 20 7287 7700
LLP
Jonathan Maxwell
Eugene Kinghorn
Purvi Sapre
Keith Driver
Jefferies International Limited T: +44 (0) 20 7029 8000
Tom Yeadon
Gaudi Le Roux
Neil Winward
TB Cardew T: +44 (0) 20 7930 0777
Ed Orlebar M: +44 (0) 7738 724 630
Joe McGregor E: SEEIT@tbcardew.com
* The dividend target stated above is a target only and not a
profit forecast. There can be no assurance that this target will be
met and it should not be taken as an indication of the Group's
expected future results which may be impacted by events or
circumstances existing or arising after the date of this
announcement. Accordingly, potential investors should not place any
reliance on this target in deciding whether or not to invest in the
Company and should decide for themselves whether or not this target
is reasonable or achievable.
About SEEIT
SDCL Energy Efficiency Income Trust plc is the first UK listed
company of its kind to invest exclusively in the energy efficiency
sector. Its projects are primarily located in the UK, Europe and
North America and include, inter alia, a portfolio of cogeneration
assets in Spain, a portfolio of recycled energy and cogeneration
projects in the United States, a regulated gas distribution network
in Sweden and, most recently, a portfolio of commercial and
industrial solar and storage projects in the United States.
The Company aims to deliver shareholders value through its
investment in a diversified portfolio of energy efficiency projects
which are driven by the opportunity to deliver lower cost, cleaner
and more reliable energy solutions to end users of energy.
The Company is targeting an attractive total return for
shareholders of 7-8 per cent. per annum (net of fees and expenses
and by reference to the initial issue price of GBP1.00 per Ordinary
Share), with a stable dividend income, capital preservation and the
opportunity for capital growth. The Company is targeting a dividend
of 5.5p per share in respect of the financial year to 31 March
2021. SEEIT's last published NAV was 102.0p per share as at 30
September 2020.
Past performance cannot be relied on as a guide to future
performance.
Further information can be found on the Company's website at www.seeitplc.com .
Investment Manager
SEEIT's Investment Manager is Sustainable Development Capital
LLP ("SDCL"), an investment firm established in 2007, with a proven
track record of investment in energy efficiency and decentralised
generation projects in the UK, Continental Europe, North America
and Asia.
SDCL is headquartered in London and also operates worldwide from
offices in New York, Dublin, Madrid, Hong Kong and Singapore. SDCL
is authorised and regulated in the UK by the Financial Conduct
Authority.
Further information can be found at www.sdclgroup.com .
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