Octopus Renewables Infra Trust PLC Increased Dividend Guidance (0762A)
18 Janvier 2024 - 8:00AM
UK Regulatory
TIDMORIT
RNS Number : 0762A
Octopus Renewables Infra Trust PLC
18 January 2024
18 January 2024
LEI: 213800B81BFJKWM2JV13
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
Increased Dividend Guidance
In line with the Company's progressive dividend policy, the
Board of Octopus Renewables Infrastructure Trust plc is pleased to
announce an increase in the target dividend to 6.02p* per ordinary
share for the financial year from 1 January 2024 to 31 December
2024 ("FY 2024").
This increase of 4.0% over FY 2023's dividend target is in line
with the increase to the Consumer Price Index (CPI) for the 12
months to 31 December 2023, and marks the third consecutive year
the Company has increased its dividend target in line with
inflation. The FY 2024 dividend target is expected to be fully
covered by cashflows generated from the Company's operating
portfolios.
The Company is on track to deliver its dividend target for FY
2023 of 5.79p per ordinary share* and expects the dividend to be
fully covered by cashflows arising from its operating assets. The
fourth interim dividend for FY 2023 is expected to be declared in
late January 2024.
Phil Austin, Chairman of Octopus Renewables Infrastructure Trust
plc, commented: "We're pleased to once again announce a dividend
target increase in line with CPI, marking our third consecutive
increase in line with inflation. This can be attributed to the
Investment Manager's progress in the successful delivery of
construction projects, with operational capacity now at 536MW,
generated by 29 assets across 5 countries, equivalent to providing
enough electricity to power 242 thousand homes. For 2024, 82% of
ORIT's forecast revenues are fixed and 53% are explicitly inflation
linked, and this is expected to contribute to stable cash
generation over the year."
For further information please contact:
Octopus E nergy Generation (Investment Manager) Via Buchanan
Chris Gaydon, David Bird
Peel Hunt (Broker)
Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)
Alex Howe, Chris Bunstead, Ed Welsby, Richard Harris,
Michael Bateman (Sales) 020 7418 8900
Buchanan (Financial PR)
Charles Ryland, George Beale 020 7466 5000
Apex Listed Companies Services (UK) Limited (Company
Secretary) 020 3327 9720
*The dividend, revenue and return targets stated in this
announcement are targets only and not profit forecasts. There can
be no assurance that these targets will be met, or that the Company
will make any distributions at all and they should not be taken as
an indication of the Company's expected future results. The
Company's actual returns will depend upon a number of factors,
including but not limited to the Company's net income and level of
ongoing charges. Accordingly, potential investors should not place
any reliance on these targets and should decide for themselves
whether or not the target dividend and target net total shareholder
return are reasonable or achievable. Investors should note that
references in this announcement to "dividends" and "distributions"
are intended to cover both dividend income and income which is
designated as an interest distribution for UK tax purposes and
therefore subject to the interest streaming regime applicable to
investment trusts.
Notes to editors
About Octopus Renewables Infrastructure Trust
Octopus Renewables Infrastructure Trust ("ORIT") is a
premium-listed, closed-ended investment company incorporated in
England and Wales focused on providing investors with an attractive
and sustainable level of income returns, with an element of capital
growth, by investing in a diversified portfolio of renewable energy
assets in Europe and Australia. As an impact fund, ORIT is helping
accelerate the transition to net zero by investing in green energy,
whilst also contributing to a broader set of UN Sustainable
Development Goals through its impact initiatives. ORIT's investment
manager is Octopus Energy Generation.
Further details can be found at
www.octopusrenewablesinfrastructure.com
About Octopus Energy Generation
Octopus Energy Generation is driving the renewable energy agenda
by building green power for the future. Its specialist renewable
energy fund management team invests in renewable energy assets and
broader projects helping the energy transition, across operational,
construction and development stages. The team was set up in 2010
based on the belief that investors can play a vital role in
accelerating the shift to a future powered by renewable energy. It
has a 13-year track record with approximately GBP6.0 billion of
assets under management (AUM) (as of September 2023) across 16
countries and total 3.3GW. These renewable projects generate enough
green energy to power 2.4 million homes every year, the equivalent
of taking over 1.2 million petrol cars off the road. Octopus Energy
Generation is the trading name of Octopus Renewables Limited.
Further details can be found at
www.octopusenergygeneration.com
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 rns@lseg.com 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
DIVFDLLFZFLBBBE
(END) Dow Jones Newswires
January 18, 2024 02:00 ET (07:00 GMT)
Octopus Renewables Infra... (LSE:ORIT)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Octopus Renewables Infra... (LSE:ORIT)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024