7 May 2024
LEI: 213800B81BFJKWM2JV13
Octopus Renewables
Infrastructure Trust plc
("ORIT" or the
"Company")
Dividend
Declaration
The Board of Octopus Renewables
Infrastructure Trust plc is pleased to declare an interim dividend
in respect of the period from 1 January 2024 to 31 March 2024 of
1.50 pence per ordinary share, payable on 31 May 2024 to
shareholders on the register at 17 May 2024 (the "Q1 2024
Dividend"). The ex-dividend date will be 16 May 2024.
A portion of the Company's dividend
is designated as an interest distribution for UK tax purposes. The
interest streaming percentage for the Q1 2024 Dividend is
55.1%.
The Q1 2024 Dividend is in line with
the Company's dividend target for the financial year from 1 January
2024 to 31 December 2024 ("FY 2024") of 6.02 pence per ordinary
share*. The Company has a progressive dividend policy and this
dividend target for FY 2024 represents an increase of 4.0% over FY
2023's dividend, in line with the increase to the Consumer Price
Index (CPI) for the 12 months to 31 December 2023 and marking the
third consecutive year the Company has chosen to increase its
dividend target in line with inflation.
For
further information please contact:
Octopus Energy Generation (Investment Manager)
Chris Gaydon, David Bird
|
Via Buchanan
|
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 target stated in this
announcement 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 at all and it 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 this target and should decide for themselves whether or
not the target dividend is 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 £6.7 billion of assets under management (AUM)
(as of December 2023) across 19 countries and total 3.9GW. These
renewable projects generate enough green energy to power 2.4
million homes every year, the equivalent of taking over 1.4 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