21st Oct 2014 09:10
LONDON (Alliance News) - Greencoat UK Wind PLC said Tuesday that its currently evaluating and performing due diligence on a number of "interesting opportunities", as it saw net asset value per share rise in the quarter to end-September.
The fund's net asset value per share as at September 30 was 104.8 pence per share, up from 102.7 pence per share a year before.
It is targeting a dividend of 6.16 pence for 2014, up from 6 pence in 2013, in line with its long term dividend policy.
During the quarter the fund acquired a 51.6% holding in four wind farms for a total of GBP90.6 million, funded through the reinvestment of its cash resources and its acquisition debt facility.
Greencoat said the UK wind farm market represents GBP60 billion of further investment opportunities in its short to medium term.
"The company continues to deliver on its investment objectives: stable and growing dividends; and real NAV growth. Our 18 month track record demonstrates performance in line with expectations and, as the company grows, we aim to deliver further value for existing and future shareholders," said Chairman Tim Ingram in a statement.
Shares in Greencoat are trading up 0.1% at 107.96 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Greencoat UK Wind