21st Feb 2025 11:33
(Alliance News) - VH Global Energy Infrastructure PLC on Friday increased its interim dividend as it reported progress at its UK flexible power project.
The London-based investor in energy infrastructure, formerly known as VH Global Sustainable Energy Opportunities PLC, declared an interim dividend of 1.45 pence per share, up 2.1% from 1.42 pence in the prior quarter.
It said the total dividend for the 2024 financial year is 5.71 pence per share, ahead of the dividend target of 5.68 pence.
The firm said it expects to pay quarterly dividends of 1.45 pence for the 2025 financial year, or a total of 5.80 pence, up 2.1% and in line with its progressive dividend policy.
The company said its 10 megawatt UK flexible power project with carbon capture and re-use reached a "significant milestone" as the first stream of carbon dioxide has been commissioned at the project.
It expects the full plant to be commissioned by the end of the first quarter of 2025.
The company said the carbon capture component of the project will capture and purify carbon dioxide exhaust to a "food-grade standard".
Co-Chief Information Officer of investment manager Victory Hill Capital Partners Richard Lum said: "We are very pleased to have achieved an important milestone in this unique project, with the successful production of first carbon dioxide signalling the late stages of commissioning activities.
"We are confident of the need for the build out of further flexible power and CCR schemes as the demand for firm power created by the increasing predominance of energy intensive AI driven digital infrastructure in the UK will allow investors ample opportunity to generate robust returns whilst making a positive sustainability impact."
Shares in VH Global Energy Infrastructure were down 0.9% to 57.28 pence in London on Friday morning.
By Michael Hennessey, Alliance News reporter
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