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Interim Results

HICL Infrastructure NAV up

16 November 2016 09:30

HICL Infrastructure Co's net asset value per share at 30 September was 145.7p - up 3.5p (2.5%) from 142.2p at 31 March.

Total shareholder return for the period of 10.4% (annualised), based on interim dividends declared plus uplift in NAV per share in the six month period.

Chairman Ian Russell said: "We are pleased to report another period of robust performance, with cash generation on an Investment Basis slightly ahead of our expectations. As a result, the Board has re-affirmed its full year dividend target of 7.65p, representing an increase of 2.7%.

"The Company's investment proposition - to deliver sustainable, long-term income to shareholders while preserving the capital value of its investment portfolio - remains as relevant and attractive as ever, particularly given the challenging macroeconomic conditions and market volatility in the UK. This was evidenced by the over-subscribed equity issue in September, which is testament to investors' confidence in the Company's diversified portfolio and its ability to generate the stable, inflation-correlated cashflows that underpin future dividend payments.

"We continue to develop the portfolio of high quality infrastructure investments positioned at the lower end of the risk spectrum and have made new investment commitments of £102.5m during the period.

"Overall, the existing portfolio is performing in line with our projections and the Board remains confident of the Company's outlook for the future."

At 9:30am: (LON:HICL) HICL Infrastructure Co Ltd share price was +0.3p at 167.9p

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