Information  X 
Enter a valid email address

Gresham House Energy (GRID)

  Print   

Monday 15 November, 2021

Gresham House Energy

Dividend Declaration

RNS Number : 2869S
Gresham House Energy Storage Fund
15 November 2021
 

15 November 2021

GRESHAM HOUSE ENERGY STORAGE FUND PLC

("GRID" or the "Company")

Declaration of Dividend
 

Gresham House Energy Storage Fund PLC (LSE: GRID) is pleased to announce a dividend of 1.75p per Ordinary Share for the period from 1 July 2021 to 30 September 2021. The dividend will be paid on 17 December 2021 to Shareholders on the register as at the close of business on 26 November 2021. The ex-dividend date is 25 November 2021.

Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts. Of this dividend declared of 1.75 pence per Ordinary Share, 0.75 pence is declared as dividend income with 1.00 pence treated as qualifying interest income.

 

For further information, please contact:

Gresham House New Energy

Ben Guest

 

 

+44 (0) 20 3837 6270
 

Jefferies International Limited

Stuart Klein

Gaudi Le Roux

Neil Winward

 

 

+44 (0) 20 7029 8000

+44 (0) 20 7029 8000

+44 (0) 20 7029 8000

 

KL Communications

Charles Gorman

Camilla Esmund

Alex Hogan

[email protected]

+44 (0) 20 3995 6699

 

JTC (UK) Limited as Company Secretary

Christopher Gibbons

[email protected]  

+44 207 409 0181

 

 

About the Company and the Manager:

 

Gresham House Energy Storage Fund plc seeks to provide investors with an attractive and sustainable dividend over the long term by investing in a diversified portfolio of utility-scale battery energy storage systems (known as BESS) located in Great Britain, Northern Ireland and the Republic of Ireland. In addition, the Company seeks to provide investors with the prospect of capital growth through the re-investment of net cash generated in excess of the target dividend in accordance with the Company's investment policy.

 

The Company will target dividend payments of 7.0p per Ordinary Share in the financial year ending 31 December 2021 and in financial periods thereafter. The Company targets an unlevered Net Asset Value total return of 8% per annum, calculated net of the Company's costs and expenses. Once certain further asset management activities are completed and leverage is introduced to the Portfolio, the Company targets a levered Net Asset Value total return of 15% per annum, calculated net of the Company's costs and expenses*.

 

Gresham House Asset Management is the FCA authorised operating business of Gresham House plc, a London Stock Exchange quoted specialist alternative asset manager. Gresham House is committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

 

www.greshamhouse.com

 

Definition of utility-scale battery energy storage systems (BESS)

 

Utility-scale battery energy storage systems (BESS) are the enabling infrastructure that will support the continued growth of renewable energy sources such as wind and solar, essential to the UK's stated target to reduce carbon emissions. They store excess energy generated by renewable energy sources and then release that stored energy back into the grid during peak hours when there is increased demand.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DIVBTBFTMTJBBPB

a d v e r t i s e m e n t