25th Mar 2021 10:52
(Alliance News) - Infrastructure investor International Public Partnerships Ltd on Thursday said its net asset value dipped amid a "cautious" 2020, though it raised its payout.
INPP's net asset value per share at December 31 was 2.3% lower annually at 147.1 pence, from 150.6p.
Shares in the company were down 1.3% at 163.48p each in London on Thursday morning.
Among INPP's assets are Tideway, which manages the under-construction Thames Tideway Tunnel, a sewage system in London, and the Northern Diabolo Rail Link in Brussels.
"Whilst contractual mitigants exist on both these assets and these risks are being actively managed by the investment adviser, the company has adopted a cautious approach to these risks," INPP added.
The company explained this contributed to a 1.7% net asset value decrease to GBP2.38 billion from GBP2.43 billion a year earlier.
INPP upped its 2020 payout by 2.5% to 7.36p from 7.18p. It affirmed its plan to pay a total dividend of 7.55p in 2021, so up 2.6% annually, and also announced it plans a payout of 7.74p in 2022.
INPP declared a second half dividend of 3.68p for 2020, equal to the first half and therefore meeting its 2020 target.
By Eric Cunha; [email protected]
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