5th Feb 2019 18:41
(Correcting error in company release stating wrong interim dividend payment.)
LONDON (Alliance News) - NextEnergy Solar Fund Ltd on Monday maintained its payout after its net asset value rose by 3.5% in the third quarter.
The stock was trading 1.2% higher on Monday at 115.87 pence a share.
The company, which invests in operating solar power plants in the UK, reported NAV per share of 108.8 pence as at December 31, 2018, compared to 105.1p as at the end of September 2018.
The increase in NAV per share was driven by a decrease in the equity discount rate from 6.75% to 6.50%, the company said.
At the end of December 2018, the company's portfolio comprised 87 operating assets with an installed capacity of 691 megawatts, unchanged on the prior quarter.
NextEnergy Solar Fund declared a quarterly dividend of 1.6625p a share and said it is on track for dividend target of 6.65p for the year, that will end in March. The company has paid two dividends of 1.6625p each in the first and second quarters.
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