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Third Interim Dividend Announcement

Released 07:13 11-Aug-2016

RNS Number : 9004G
Bluefield Solar Income Fund Limited
11 August 2016
 

11 August 2016

 

BLUEFIELD SOLAR INCOME FUND LIMITED
(the "Company")

Third Interim Dividend Announcement

Bluefield Solar Income Fund Limited (LON: BSIF) (the "Company") is pleased to announce a third interim dividend for the financial year ending 30 June 2016 (the "Third Interim Dividend").

The Third Interim Dividend of 1.5 pence per Ordinary Share will be payable to Shareholders on the register as at 19 August 2016 with an associated ex-dividend date of 18 August 2016 and a payment date of 9 September 2016

Upon payment of the Third Interim Dividend, the total dividend paid to Shareholders for the Financial Year will be 5.75 pence per Ordinary Share, which is unchanged from the total dividends in the same period for the financial year ended 30 June 2015.  A further dividend for the financial year ending 30 June 2016 will be declared in conjunction with the publication of the Company's annual report and consolidated financial statements for the financial year ending 30 June 2016 (the "Financial Statements"), anticipated to be published on 3 October 2016.

The Company and its Board expect to meet or exceed the total target dividend of 7.07 pence per Ordinary Share for the financial year ending 30 June 2016, with the intention of this rising annually with RPI thereafter.

John Rennocks, the Chairman of the Company, said, "Strong performance in 2014/15 enabled the Board to declare a total dividend of 7.25 pence per Ordinary Share for the financial year ended 30 June 2015, as well as to carry forward a modest surplus resulting from above expectations irradiation and plant performance.  Irradiation levels in 2015/16 were at modestly lower levels, demonstrating the relative stability of solar revenues to different weather patterns, and this performance together with strong underlying operating controls at our plants has enabled another year of good results to be delivered, full details of which will be detailed in our year end results statements in due course."

 

Enquiries:

James Armstrong / Mike Rand / Giovanni Terranova

Bluefield Partners LLP - Company Investment Adviser

Tel: +44 (0)20 7078 0020

 

Tod Davis / David Benda

Numis Securities Limited - Company Broker

Tel: +44 (0)20 7260 1000

 

Kevin Smith

Heritage International Fund Managers Limited - Company Secretary & Administrator

Tel: +44 (0)1481 716000

 

Tom Karim

CNC

Tel: +44(0)20 3219 8820 / +44(0)7923 293 399

 

Note to editors

About Bluefield Solar Income Fund Limited

The Company is a Guernsey-registered investment company focusing on large scale agricultural and industrial solar assets. It had an initial public offering of shares on the main market of the London Stock Exchange in July 2013 and currently has over 309 million shares in issue.

BSIF seeks to provide shareholders with an attractive return, principally in the form of income distributions, by investing in a diversified portfolio of solar energy assets, each located within the UK, with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites.  The Company intends to pay quarterly distributions.

About Bluefield Partners LLP (Bluefield)

Bluefield was established in 2009 and is an investment adviser to companies and funds investing in solar energy infrastructure. It has a proven record in the selection, acquisition and supervision of large scale energy and infrastructure assets in the UK and Europe. The team has been involved in over £1.25 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £500m in the UK since December 2011.

Bluefield has led the acquisitions, and currently advises on over 70 UK based solar PV assets that are agriculturally, commercially or industrially situated. Based in its London office, Bluefield's partners are supported by a dedicated and highly experienced team of investment, legal and portfolio executives. 

Bluefield was appointed Investment Adviser to the Company in June 2013.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Third Interim Dividend Announcement - RNS