2010 First Half Dividend
24 August 2010
International Public Partnerships Limited
2010 FIRST HALF DIVIDEND
The Board of International Public Partnerships Limited (INPP) today declared a dividend covering the period 1 January 2010 to 30 June 2010.
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Distribution period: |
1 January 2010 - 30 June 2010 |
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Distribution amount per share: |
2.85 pence |
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Ex-dividend date: |
1 September 2010 |
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Dividend record date: |
3 September 2010 |
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Last date to elect/revoke elections: |
1 October 2010 |
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Payment date/Allotment of scrip: |
15 October 2010 |
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Scrip Alternative in operation: |
Yes |
The 2010 first half dividend of 2.85 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 from the underlying projects.
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 10 September 2010 to all eligible INPP shareholders on the register as at the record date for the dividend being 3 September 2010. The scrip dividend election forms will need to be completed and returned to Capita Registrars by 1 October 2010 by those investors who wish to receive shares in lieu of cash.
2010 Full Year Distribution
In December, the Board of Directors provided indicative guidance for the target 2010 distribution of 5.70 pence per share, which if achieved would be a 2.8% increase on the 2009 distribution and the third consecutive year INPP has increased distributions above the 2.5% growth target indicated at the time of INPP's IPO in 2006. The Board today reconfirms this guidance. The second half of the 2010 distribution which is targeted to be 2.85 pence per share is expected to be paid in May 2011.
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 +44 (0)20 7939 0558
Amber Fund Management Limited
Hugh Jonathan/Nick Westlake +44 (0)20 7260 1263/1345
Numis Securities
Ed Gascoigne-Pees/Ed Berry +44 (0)20 7269 7132/7297
Financial Dynamics
Capita Registrars +44 (0)871 664 0300
This information is provided by RNS
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