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IN BRIEF: US Solar Fund ups dividend despite drop in NAV

25th Mar 2024 18:07

US Solar Fund PLC - London-based investment company focusing on owning and operating solar power assets in North America - NAV per share as at December 31 amounts to USD0.78, down from USD0.96 on the same date a year earlier. For 2023, NAV at December 31 was USD258.2 million, down from USD320.0 million on the same date in 2022. Says 20% fall is due to discount rate widening, updates to operating cost assumptions and dividend payments. Pays out dividend of 5.66 cents, up from 5.58 cents.

Chair Gill Nott says: "The last 12 months will be remembered as a challenging year for financial markets. Higher inflation and interest rates have weighed on infrastructure companies generally, particularly impacting discount rates used to calculate net asset values, and the costs of operating assets."

Current stock price: USD0.49

12-month change: down 39%

By Sophie Rose, Alliance News senior reporter

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