8th Aug 2018 10:12
LONDON (Alliance News) - Renewables Infrastructure Group Ltd said Wednesday it had a strong first half of the year as its net asset value per share grew 1.5%.
For the six months to June 30, the company's net asset value per share rose to 105.2 pence from 103.6p at December 31.
Net asset value total return stood at 9.2% on a share price basis versus 7.2% in the first half of 2017. The FTSE All-share index achieved yearly return of 3.5% over the comparative period.
The company issued a second interim dividend of 1.625p per share, which keeps it on track to achieve its targeted dividend of 6.50p. For 2017, the company issues a total dividend of 6.40p.
The company's directors' portfolio valuation increased by 11% to GBP1.20 billion from GBP1.08 billion at the end of December.
Chairman Helen Mahy said: "The company has had a strong half year and its portfolio demonstrated good levels of asset availability as a result of continued active asset management.
"Overall, the company delivered good net asset value growth and cash earnings. The board is confident that the company will continue to deliver long-term, income-based returns to its shareholders."
Renewables Infrastructure shares were trading up 0.2% at 110.20p each.
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Renewables Infrastructure Group