4th Mar 2026 10:43
(Alliance News) - HICL Infrastructure PLC on Wednesday reiterated its dividend outlook for the full year ending this month, noting its portfolio is performing in line with expectations.
In an interim statement covering the five months ended February 28, the London-listed infrastructure investment company said that it is "well positioned for both capital and income growth" as its capital expenditure programmes are continuing to grow its earnings before interest, tax, depreciation and amortisation.
HICL said it has resumed share buybacks, with GBP4 million repurchased since the beginning of 2026 and GBP156 million since the programme started. The company also reaffirmed its target dividend of 8.35 pence per share for financial 2026 and its 8.50 pence dividend target for financial 2027.
It also completed disposals of seven UK public-private partnership assets worth GBP225 million during the period, enabling it to fully repay its revolving credit facility and fund investments.
Investments included equity commitments to the Blankenburg tunnel and B247, for which HICL allocated GBP66 million from sale proceeds, and Affinity Water, to which it allocated GBP50 million.
The company also noted that the outlook for core infrastructure "continues to strengthen, underpinned by renewed political commitment to infrastructure investment, resilient transaction activity and strong investor demand for long‑duration, inflation‑linked assets".
It also expects to complete a shareholder consultation soon and update shareholders when it publishes annual results in May, after its proposed merger with The Renewables Infrastructure Group Ltd was shelved following a shareholder rebuke of the plan late last year.
HICL shares were up 0.3% to 120.16 pence each on Wednesday morning in London.
By Martin Miraglia, Alliance News reporter
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