27th Jun 2019 11:44
(Alliance News) - SDCL Energy Efficiency Income Trust PLC on Thursday reported an increase in net asset value per share and said it is now focused on delivering "stable returns" for its shareholders.
The investment company floated on the London Stock Exchange in December last year after raising GBP100 million in its initial public offering.
The trust reported NAV per share as at March 31 of 98.4 pence, up from 98.0p at the time of the IPO. The company's portforlio was valued at GBP60.9 million as at the end of March.
SDCL Energy Efficiency declared an interim dividend of 1.0p per share for the period to March 31. The company said it is targeting a 5p per share dividend for the year to the end of March 2020 and 5.5p per share for its financial year 2021.
"The portfolio that we have acquired since the IPO has performed in line with expectations, and we have demonstrated our ability to source and execute on additional investment opportunities that have enhanced and diversified it further," said Chief Executive Jonathan Maxwell.
"The market for energy efficiency remains strong and we are focused on ensuring we create value and deliver stable returns for our shareholders in this emerging asset class," added Chair Tony Roper.
The stock was trading 0.2% higher on Thursday in London at 106.72p a share.
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Sdcl Energy Ef.