2017 2nd Half Year Dividend -Scrip Election Option
18 April 2018
2017 Second Half Year Dividend - Scrip Election Option
Further to its announcement on 21 March 2018, the Board of International Public Partnerships Limited ("INPP"), the FTSE 250 listed infrastructure investment company, advises that qualifying shareholders will only be given the option to receive the forthcoming dividend as a cash payment.
As at 17 April 2018, the Company's shares were trading at 141.0 pence per share, somewhat lower than the last published Net Asset Value ('NAV'), 145.0 pence per share at 31 December 2017. The Board therefore consider that it is not in the best interests of shareholders to offer a scrip dividend alternative on this occasion. All shareholders entitled to receive a dividend of 3.41 pence per share on the record date (27 April 2018) will receive their dividend in cash.
2018 and 2019 Full Year Distributions
The Board of Directors reaffirms that it has established a minimum target for 2018 and 2019 distributions of 7.00 and 7.18 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. The Board will continued to review whether scrip dividends are appropriate for each of these forthcoming dividends.
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.
Enquiries:
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International Public Partnerships Limited Erica Sibree
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+44 (0)20 7939 0558 |
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FTI Consulting Ed Berry Mitch Barltrop
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+44 (0)20 3727 1046 +44 (0)20 3727 1039
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About International Public Partnerships:
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 129 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases typically of 25-40 year concessions.
Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and has over 100 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
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