6th Sep 2024 14:26
Triple Point Energy Transition PLC - invest in assets that support transition to lower carbon, efficient energy system in the UK - Declares special dividend worth GBP25 million, about 29% of the company's net asset value as of its financial year-end on March 31. The special dividend will equate to 25 pence per share. It is part of the managed wind-down that shareholders approved back in March.
The investment trust says it is able to make the payout thanks to "timely" realisations to date. These have included a boxed LED receivables finance facility, a battery energy storage system loan portfolio, and a combined heat and power loan portfolio. They were sold a 91% of carrying value. Remaining is a hydroelectric portfolio and remaining parts of the LED receivables finance facility. Both are expected to be sold off by the end of the company's current financial year, with the proceeds returned to shareholders.
Current stock price: 71.52 pence, up 3.4% on Friday afternoon in London
12-month change: up 14%
By Tom Waite, Alliance News editor
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