27th Sep 2018 13:11
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd on Thursday upped its total payout for its 2018 financial year as net asset value grew following an acquisition of four solar assets.
The investment company said NAV per share rose to 113.28 pence in the year to the end of June compared to 110.49p reported at the same date a year earlier.
Shareholder total return was 12% with share price standing at 121.00p at the end of the period. The stock was trading 0.2% higher on Thursday at 119.93 p per share.
The company has declared a total dividend of 7.43p per share, up from 7.25p paid the year ago.
During the year, the company completed four acquisitions for a total consideration of GBP26.2 million, amounting to 18.8 megawatt peak, taking the company's total capacity to 460.3 megawatt peak.
As at the end of June, Bluefield Solar had a total of 45 large solar assets, 39 micro solar assets and two roof top assets, all of which were operational.
"This year has marked another very good year for Bluefield Solar," said Chairman John Rennocks.
"Maintaining this robust performance, we continue to optimise our revenue streams from the existing portfolio through strong operational management from Bluefield Services," added Rennocks.
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