24th Jan 2014 09:14
LONDON (Alliance News) - 3i Infrastructure PLC Friday said its European portfolio continued to perform well operationally and financially between October 1 and December 31, 2013 as it moves forward with its objective of paying a dividend of 5.5% of opening shareholders' equity for the full year.
The investment company focusing on infrastructure investment opportunities said its portfolio generated income, net of fees payable and receivable on investment activities, of GBP32.7 million in the period.
This amount includes income of GBP20.2 million accrued from energy business Elenia following the successful completion of the re-financing of its acquisition debt. Portfolio income from the beginning of the current financial year to December 31, 2013 was GBP63.6 million.
Elenia is owned by Ilmarinen Mutual Pension Insurance Company, Goldman Sachs and 3i.
3i Infrastructure said it is pleased with its recent investment in the Dutch National Military Museum, which diversifies its portfolio into a public-private partnership investment in continental Europe.
In November 2013, the company invested EUR6.3 million to acquire an 80% holding in the National Military Museum project in the Netherlands.
The museum project was procured under a Public Private Partnership framework by the Dutch Ministry of Defence and comprises the design, build, finance and maintenance of a museum facility on the site of the former Soesterberg Airbase, near Amsterdam.
The project is currently under construction, with completion scheduled for September, 3i Infrastructure said.
Financially, the firm said it had cash balances of GBP96.5 million, at the end of December, before the payment of the GBP29.5 million interim dividend on January 9.
3i Infrastructure said it expects to announce its annual results in May.
The stock was trading at 134.52 pence Friday morning, down 0.48 pence or 0.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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