2013 Second Half Year Dividend
27 March 2014
2013 SECOND HALF YEAR DIVIDEND
The Board of International Public Partnerships Limited (INPP) declares a distribution covering the period.
|
Distribution period: |
1 July 2013 - 31 December 2013 |
|
Distribution amount per share: |
3.075 pence |
|
Ex-dividend date: |
23 April 2014 |
|
Dividend record date: |
25 April 2014 |
|
Last date to elect/revoke elections: |
23 May 2014 |
|
Payment date/Allotment of scrip: |
13 June 2014 |
|
Scrip Alternative in operation: |
Yes |
The 2013 second half year distribution of 3.075 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 2 May 2014 to all eligible INPP shareholders on the register as at the record date for the dividend being 25 April 2014. The scrip dividend election forms will need to be completed and returned to Capita Registrars by 23 May 2014 by those investors who wish to receive shares in lieu of cash.
2014 and 2015 Full Year Distributions
The Board of Directors has established a minimum target for 2014 and 2015 distributions of 6.30 pence per share and 6.45 pence per share (respectively), providing additional guidance to investors as to the Company's future intentions. The targeted payments would represent a minimum c.2.5% increase on the preceding distributions and would continue to be in line with the growth target indicated at the time of INPP's IPO in 2006.
Note: The above distribution guidance is provided by the Company in consultation with its Investment Advisor as a target only and is 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:
|
International Public Partnerships Limited Erica Sibree |
+44 (0)20 7939 0558 |
|
Numis Securities Hugh Jonathan/Nick Westlake
FTI Consulting Ed Berry/Jack Hickey |
+44(0)20 7260 1263/1345
+44 (0)20 7269 7297/7196
|
Notes to Editors:
About International Public Partnerships (INPP):
International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 122 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of around 70 dedicated staff who manage, advise on and originate projects for INPP.
Visit the INPP website at www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
Latest directors dealings
- 9 hours ago Savannah Energy
- 11 hours ago Buccaneer Energy PLC
- 11 hours ago Savannah Energy
- 11 hours ago Carclo
- 11 hours ago Schroder Japan Growth Fund