9th Apr 2020 09:28
(Alliance News) - International Public Partnerships Ltd on Thursday reported net asset value growth and raised its full-year dividend.
Net asset value per share stood at 150.6 pence on December 31, up 1.7% from 148.1p in the year prior.
Shares in the company were 0.3% higher at 156.50p each in London on Thursday morning.
The infrastructure investor boosted its dividend by 2.6% to 7.18p from 7.00p. For 2020, INPP expects its payout to climb 2.5% to 7.36p and plans a further 2.6% increase to 7.55p in 2021.
Chair Mike Gerrard said: "I am pleased to report that 2019 was another strong year for the company in which we continued to deliver financial performance in line with expectations. This reflected progress across our entire portfolio of investments in infrastructure projects and businesses, both in the UK and overseas.
"The environment for infrastructure investment remained buoyant throughout 2019 and, following the outcome of the UK general election in December 2019, concerns receded that certain infrastructure investments in the UK were at possible future risk of nationalisation."
The investor had delayed the publication of its annual results, following guidance from the UK Financial Conduct Authority.
"The Covid-19 pandemic will continue to affect all businesses across the world in a variety of ways. Whilst the company is no different and the current situation does not yet allow all consequences to be fully analysed, the company is reassured by the operational performance of its assets to date and its historic focus on risk mitigation," INPP said.
"The company notes that there are a range of contingent risks stemming from Covid-19. These include, but may not be limited to, staff shortages and supply chain breakdowns and their consequences. The company will continue to monitor and where possible take action to avoid or mitigate any such impacts on its portfolio."
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
International Public Partnerships