18th Nov 2015 09:15
LONDON (Alliance News) - The investment adviser to HICL Infrastructure Co Ltd on Wednesday said it is weighing up a "range of opportunities" both in the UK and internationally.
"We are confident the pipeline will result in new value accretive investments for the group," Tony Roper, director, InfraRed Capital Partners Ltd, the investment adviser, said in a statement.
The infrastructure investment company's net asset value was 139.1 pence on September 30, up 2.4p from the 136.7p recorded on March 31.
The total shareholder return was 9.0% on an annualised basis in the six months to September 30, based on dividends declared and the increase in NAV. Total dividends of 3.72p were declared for the first half, putting the company on track for its target of 7.45p across the entire financial year.
HICL wants to pay a dividend of 7.60p for the financial year to March 31, 2017.
The value of the company's investment portfolio increased by 8.1% in the half to GBP1.87 billion.
HICL said it is considering a tap issue of shares in the near future, as it has a current net funding requirement of about GBP30.0 million.
Since the end of September the company has increased its revolving credit facility to GBP200.0 million from GBP150.0 million.
Shares in HICL were trading flat at 153.70 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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