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RNS

2019 First Half Year Dividend

Released 07:00 06-Sep-2019

RNS Number : 4296L
International Public Partnerships
06 September 2019
 

6 September 2019

 

2019 First Half Year Dividend

 

The Board of International Public Partnerships Limited ("INPP"), the FTSE 250 listed infrastructure investment company, declares a distribution covering the period:

 

Distribution period:

1 January 2019 - 30 June 2019

Distribution amount per share:

3.59 pence

Ex-dividend date:

19 September 2019

Dividend record date:

20 September 2019

Circulation of Scrip Election Forms and Circular:

3 October 2019

Last date to elect/revoke elections:

17 October 2019

Payment date/Allotment of scrip:

7 November 2019

Scrip Alternative in operation:

Yes

 

The 2019 first half year distribution of 3.59 pence per share is in line with the target previously outlined by the Directors and, as per previous periods, has been entirely funded through operating cash flow from the underlying projects.

 

The Board intend to offer a scrip dividend alternative for this distribution to those eligible INPP investors who wish to receive additional INPP securities in lieu of a cash payment. In line with prior dividends, the Company has implemented an online process, reducing the need for paperwork and allowing eligible INPP shareholders access to a web-based service to elect the scrip dividend alternative. Details will be sent to all eligible INPP shareholders on the register as at the record date for the dividend being 20 September 2019 with the scrip dividend circular being mailed on or about 3 October 2019, the terms of the scrip dividend alternative will also be available on the INPP website. Shareholders wishing to access the web-based service and receive electronic communications from the Company can do so at www.signalshares.com.

 

2019 and 2020 Full Year Distributions

 

The Board of Directors reaffirms that it has established a target for 2019 and 2020 distributions of 7.18 and 7.36 pence per share (respectively), providing additional guidance to investors as to the Company's future intentions. The targeted payments would represent a c.2.5% increase on the preceding distributions and would continue to be in line with the growth target indicated at the time of INPP's IPO in 2006.

 

Note: The above distribution guidance is provided by the Company in consultation with its Investment Adviser as a target only and is not a profit forecast. There can be no assurance that this target will be met or that the Company will make any distributions whatsoever. The times and dates in this announcement are expected times and dates only and are subject to change. The Board will continue to review whether scrip dividends are appropriate for future dividends. Any such changes will be notified to shareholders through a regulatory information service.

 

Enquiries:

 

Erica Sibree/Amy Joslin

Amber Fund Management Limited

 

+44 (0)20 7939 0558/0587

Hugh Jonathan

Numis Securities

 

+44 (0)20 7260 1263

Ed Berry/Mitch Barltrop

FTI Consulting

 

+44 (0) 20 3727 1046/1039

About International Public Partnerships ('INPP'):

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America.  INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists over 125 staff who are responsible for the management of, advice on and origination of infrastructure investments.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.


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.
 
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2019 First Half Year Dividend - RNS