27th Mar 2014 12:32
LONDON (Alliance News) - Infrastructure investment company International Public Partnerships Ltd (INPP) Thursday raised its full-year dividend by 2.5%, despite seeing a fall in pretax profit to GBP56.1 million in 2013 from GBP68.4 million the year before.
INPP said it will pay a dividend of 6.15 pence for 2013, up from 6.0 pence in 2012, and is targeting a minimum target dividend of 6.30 pence for 2014 and 6.45 pence per share for 2015.
The firm said its net asset value grew 8.6% to GBP935.4 million from GBP861.0 million, while its net asset value per share rose to 123.0 pence from 121.0 pence a year earlier. This has been boosted by strong investor demand for infrastructure assets, INPP said.
During the period, the company made investments of GBP36.5 million, while a further GBP17.0 million has been invested since the year-end.
Looking ahead, INPP said its outlook is driven by a significant pipeline of off-market investments opportunities across sectors and geographies to further strengthen and diversify its portfolio.
"We view the outlook for the sector as promising and remain confident in the group's robust growth prospects," Chairman Rupert Dorey said in a statement.
The stock was trading at 129.25 pence, up 1.65 pence or 1.3%, making it one of the biggest gainers on the FTSE 250.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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