17th Dec 2019 18:39
(Alliance News) - Ecofin Global Utilities and Infrastructure Trust PLC said Tuesday its net asset value per share increased 27% over the year.
For the year ended September 30, the company said its net asset value per share was 175.79 pence, up from 144.03p year-on-year.
The company paid dividend of 6.40 pence per share for the period, unchanged from the year before.
David Simpson, chair, said: "The investment manager has positioned the portfolio to capitalise on the rapid changes underway in power markets, particularly related to environmental and sustainability issues, and on the investment spending required to upgrade and update the economic infrastructure necessary to support economic growth."
"This will continue to provide the prospect for higher valuations and the ongoing success of your company," Simpson added.
The company also said it is recommending a name change to Tortoise Global Infrastructure Trust PLC in order to simplify its current name and reflect its investment manager's change in ownership.
Ecofin Global Utilities and Infrastructure Trust shares closed 3.6% higher in London at 158.00 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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