Net Asset Value and Dividend Announcement

RNS Number : 5563D

Greencoat UK Wind PLC

30 January 2015

 

30 January 2015

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

GREENCOAT UK WIND PLC

(the "Company")

Net Asset Value and Dividend Announcement

Net Asset Value / Net Asset Value per share	£486.2 million / 105.5 pence
Dividend / Dividend per share	£14.2 million / 3.08 pence

The Company announces that its unaudited Net Asset Value as of 31 December 2014 is £486.2 million (105.5p per share), an ex-dividend increase of 2.5p per share for 2014 (in addition to 6.16p dividends declared). The Net Asset Value reflects a decline in the power price forecast, which has been partially offset by lower operational costs associated with renewed long term contractual arrangements. Power prices are predominantly driven by gas prices in both the short and long term, reflecting the position of gas-fired generation in the UK's generation portfolio. Production in the last quarter was in line with management expectations.

The Company's December 2014 Factsheet is available on the Company's website, www.greencoat-ukwind.com.

The Company also announces an interim dividend of 3.08p per share in respect of the period from 1 July 2014 to 31 December 2014 and an increase in the target dividend for 2015 to 6.26p per share, increased in line with the Retail Prices Index for December 2014.

Dividend Timetable

Ex-dividend date            12 February 2015

Record date                  13 February 2015

Payment date                27 February 2015

Move to Quarterly Dividends

Having discussed with investors, the Company has decided to move to paying dividends to shareholders on a quarterly basis, the first of which will be declared in April and paid in May.

Going forward, each quarterly interim dividend will normally be in respect of the three months to March, June, September and December. It is expected that the dividends will be paid near the end of May, August, November and February each year. A resolution is to be proposed at the forthcoming AGM seeking approval of the Company's Dividend Policy.

The Company will continue to formally announce dividend declarations through the Regulatory Information Service of the London Stock Exchange and on its website www.greencoat-ukwind.com.

The Company expects the quantum of each quarterly interim dividend to be approximately one quarter of the forecast dividend for the year, with the final quarterly dividend being adjusted as necessary.

For further information, please contact:

Greencoat UK Wind PLC                  020 7832 9400

Stephen Lilley

Laurence Fumagalli

Tom Rayner

Heritage Administration Services Limited - Company Secretary

Joe McDaniel                                         028 9078 5885

Disclaimer

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, South Africa or Japan. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not contain or constitute an offer for sale of, or the solicitation of an offer or an invitation to buy or subscribe for, Ordinary Shares to any person in the United States, Australia, Canada, South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

The Company will not be registered under the US Investment Company Act of 1940, as amended. In addition, the Ordinary Shares referred to herein have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or under the securities laws of any state of the United States and may not be offered or sold in the United States or to or for the account or benefit of US persons absent registration or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable State securities laws. The offer and sale of Ordinary Shares referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of any state, province or territory of Australia, Canada, South Africa or Japan. Subject to certain exceptions, the Ordinary Shares referred to herein may not be offered or sold in Australia, Canada, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada, South Africa or Japan. There will be no public offer of the Ordinary Shares in the United States, Australia, Canada, South Africa or Japan.

 

END

 

 

MSCPGUBPGUPAPGB