International Public Partnership Ld 2017 2nd Half Year Dividend -Scrip Election Option (3453L)
18 April 2018 - 9:45PM
UK Regulatory
TIDMINPP
RNS Number : 3453L
International Public Partnership Ld
18 April 2018
18 April 2018
2017 Second Half Year Dividend - Scrip Election Option
Further to its announcement on 21 March 2018, the Board of
International Public Partnerships Limited ("INPP"), the FTSE 250
listed infrastructure investment company, advises that qualifying
shareholders will only be given the option to receive the
forthcoming dividend as a cash payment.
As at 17 April 2018, the Company's shares were trading at 141.0
pence per share, somewhat lower than the last published Net Asset
Value ('NAV'), 145.0 pence per share at 31 December 2017. The Board
therefore consider that it is not in the best interests of
shareholders to offer a scrip dividend alternative on this
occasion. All shareholders entitled to receive a dividend of 3.41
pence per share on the record date (27 April 2018) will receive
their dividend in cash.
2018 and 2019 Full Year Distributions
The Board of Directors reaffirms that it has established a
minimum target for 2018 and 2019 distributions of 7.00 and 7.18
pence per share (respectively), providing additional guidance to
investors as to the Company's future intentions. The targeted
payments would represent a minimum 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. The Board will
continued to review whether scrip dividends are appropriate for
each of these forthcoming dividends.
Note: The above distribution guidance is provided by the Company
in consultation with its Investment Advisor 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. Any such changes
will be notified to shareholders through a regulatory information
service.
Enquiries:
International Public Partnerships
Limited +44 (0)20 7939
Erica Sibree 0558
+44 (0)20 3727
FTI Consulting 1046
Ed Berry +44 (0)20 3727
Mitch Barltrop 1039
About International Public Partnerships:
International Public Partnerships ('INPP') is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships ('PPP'), private finance initiative ('PFI'), regulated
asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 129 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the UK, Europe, Australia and North America. INPP seeks
to provide its shareholders with both a long-term yield and capital
growth through investment across both construction and operational
phases typically of 25-40 year concessions.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and has over 100 dedicated staff who manage, advise on and
originate projects for INPP.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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