Bluefield Solar Income Fund Limited Interim Dividend & Unaudited 31 March 2017 NAV (7904E)
11 May 2017 - 4:01PM
UK Regulatory
TIDMBSIF
RNS Number : 7904E
Bluefield Solar Income Fund Limited
11 May 2017
11 May 2017
BLUEFIELD SOLAR INCOME FUND LIMITED
(the "Company")
Unaudited 31 March 2017 NAV & Interim Dividend
Announcement
Bluefield Solar Income Fund Limited (LON: BSIF) (the "Company")
announces its second interim dividend in respect of the financial
year ended 30 June 2017 (the "Current Financial Year")and its net
asset value ("NAV") as at 31 March, 2017. Unless otherwise noted
herein, the information provided in this announcement is
unaudited.
The Company is declaring an unchanged second interim dividend in
respect of the financial year ended 30 June 2017 of 1 penny per
Ordinary share (the "Dividend"). The Dividend is to be paid on 9
June, 2017 to shareholders on the register as at 19 May 2017 with
an associated ex-dividend date of 18 May, 2017. Including the
Dividend, total dividends paid or announced in the current
financial year are 4.25 pence per Ordinary share and are in line
with the dividends paid for the same period during the financial
year ended 30 June 2016.. The Company can confirm that it intends
to meet or exceed its target dividend of 7.18 pence per Ordinary
share in respect of the current financial year, with the intention
of this target rising annually with RPI thereafter.
The Company's NAV at 31 March 2017 was GBP385.5 million, or
104.26 pence per Ordinary Share, compared to the NAV at 31 December
2016 of GBP388.5 million, or 105.07 pence per Ordinary Share. The
change in NAV is due to the adoption of the most recent power
curves from the Company's two independent power forecasters, whose
forecasts have been blended on a 50/50 basis. All other core
assumptions have remained consistent with the NAV issued in the
Company's interim financial statements for the period ending 31
December, 2016.
Comment
John Rennocks, the Chairman of the Company, said, "The Company
is on target, for the third year running, to deliver dividends at
least in line with our target of 7.18 pence per share for our
current financial year, thereby continuing to provide our
shareholders with attractive levels of income. These are supported
by low cost, fully amortising, long term financing and a low
operating cost base".
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 369 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 GBP1.25 billion of solar
PV funds and/or transactions in both the UK and Europe since 2008,
including over GBP500m 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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