12th May 2023 08:47
NextEnergy Solar Fund Ltd - Guernsey-based investor in solar energy infrastructure and complementary technology assets, managed by NextEnergy Capital - Raises dividend target for the current financial year, which it notes is its 10th consecutive payout target increase. It now plans to pay dividends totalling 8.35p per share for the year ending March 31, 2024, up 11% from financial 2023's dividend of 7.52p. "This announcement represents NESF's tenth consecutive dividend target increase, in line with the company's progressive annual dividend policy. The company has achieved all of its dividend targets whilst maintaining a covered dividend throughout the nine years since IPO and continues to target a covered dividend beyond the current financial year," NextEnergy Solar says. Notes the dividend target will be covered 1.3 to 1.5 times by forecast revenue and is not dependent on proceeds of the UK asset disposal programme that it announced late last month.
Current stock price: 103.01 pence, down 4.4% in London early Friday
12-month change: down 9.0%
By Tom Waite, Alliance News editor
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