2009 Second Half Dividend
11 March 2010
International Public Partnerships Limited
2009 Second Half Dividend
The Board of International Public Partnerships Limited (INPP) today declared a distribution covering the period 1 July 2009 to 31 December 2009.
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Distribution period: |
1 July 2009 - 31 December 2009 |
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Distribution amount per share: |
2.775 pence |
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Ex-dividend date: |
17 March 2010 |
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Dividend record date: |
19 March 2010 |
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Last date to elect/revoke elections: |
16 April 2010 |
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Payment date/Allotment of scrip: |
6 May 2010 |
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Scrip Alternative in operation: |
Yes |
The 2009 full year distribution of 5.55 pence per share is in line with the target previously outlined by Directors and, as per previous periods, has been entirely funded through operating cash flow.
The Board intend to offer a scrip dividend alternative for this distribution to those investors who wish to receive additional INPP securities in lieu of a cash payment. A circular will be sent to shareholders explaining the terms of the scrip dividend alternative. It is intended that the circular together with scrip dividend election forms will be mailed on or about 25 March 2010 to all eligible INPP shareholders on the register as at the record date for the dividend being 19 March 2010. The scrip dividend election forms will need to be completed and returned to Capita Registrars by 16 April 2010 by those investors who wish to receive shares in lieu of cash.
2010 Distribution
In December, the Board of Directors provided indicative guidance for the target 2010 distribution of 5.70 pence per share. The Board today reconfirms this guidance. The first half of the 2010 distribution which is targeted to be 2.85 pence per share is expected to be paid in October 2010. If this target is achieved, this would represent a 2.8% increase on the 2009 distribution, and would be the third consecutive year INPP has increased distributions above the 2.5% growth target indicated at the time of INPP's IPO in 2006.
Note: The above distribution guidance is a target only and not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever. The times and dates in this announcement are expected times and dates only and are subject to change. Any such changes will be notified to shareholders through a regulatory information service.
For further information:
Bianca Francis
Amber Fund Management Limited
+44 (0)20 7939 0558
bianca.francis@amberinfrastructure.com
Nick Westlake
Numis Securities Limited
+44 (0)20 7260 1345
Capita Registrars
+44 (0)871 664 0300
This information is provided by RNS
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