Ecofin US Renewables Infrastr.Trust Interim Dividend Declaration and Quarterly NAV (7741Z)
27 Enero 2022 - 1:00AM
UK Regulatory
TIDMRNEW
RNS Number : 7741Z
Ecofin US Renewables Infrastr.Trust
27 January 2022
27 January 2022
ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC
(the "Company" or "RNEW")
Interim Dividend Declaration and Quarterly Net Asset Value
Highlights
-- Fourth interim dividend for 2021 declared of 1.4 cents per ordinary share
-- Aggregate total dividends since IPO of 3.2 cents per ordinary
share, a 3.2% dividend yield for 2021
-- NAV of $1.0044 per ordinary share as at 31 December 2021
-- Portfolio generated 169.2 GWh of clean energy in 2021
(exceeding its budget by 2%), offsetting c89,000 tonnes of CO2e
(equating to c16,000 homes powered)
Interim Dividend Declaration
The Board of RNEW is pleased to declare an interim dividend of
1.4 cents per ordinary share for the period 1 October 2021 to 31
December 2021, the Company's fourth quarter of trading since
admission in December 2020.
Taking into account the four interim dividends declared since
admission, in total 3.2 cents per ordinary share, the Company has
exceeded its dividend target yield for 2021 of 2 to 3 per cent
(based on the IPO issue price of 100 cents per ordinary share),
equating to a yield of 3.2 % for the year ended 31 December
2021.
The interim dividend of 1.4 cents is payable on 11 March 2022 to
shareholders on the register at 25 February 2022. The ex-dividend
date will be 24 February 2022.
Net Asset Value
The Company's unaudited Net Asset Value ("NAV") at 31 December
2021 on a cum-income basis was $125.6 million or $1.0044 per
ordinary share.
The 0.2% reduction in NAV since the last quarter was driven by a
0.8% decrease in the value of investments reflecting updates to
discounted cash flows, discount rates and quarterly depreciation,
largely offset by a 0.6% net increase in working capital due to
cash distributions from the projects.
Patrick O'D Bourke, Chair of the Board, said: "After RNEW's
first full year of operations, we are pleased to have exceeded our
dividend target for 2021. This was made possible by the Investment
Manager's efficient deployment of the IPO proceeds into a
diversified portfolio of primarily operating U.S. solar and wind
assets, which has generated over 169.2 GWh of clean energy .
The interim dividend of 1.4 cents per ordinary share we are
declaring today is consistent with RNEW's annual dividend target
range of 5.25 to 5.75%, once fully invested."
Jerry Polacek, Managing Director and Group Lead, Ecofin, said:
"In addition to the strong dividend performance in 2021, RNEW is
well positioned to consider an attractive pipeline of more than
$100 million of U.S. solar and wind asset investments which are
either committed or under exclusivity, offering compelling
opportunities for portfolio growth in 2022."
For further information, please contact:
Ecofin Advisors, LLC (Investment Manager)
Jerry Polacek
Matthew Ordway
Prashanth Prakash +1 913 981 1020
Stifel (Corporate Broker)
Mark Bloomfield
Nick Donovan +44 207 710 7600
Sanne Fund Services (UK) Limited (Company
Secretary)
Martin Darragh
Maria Matheou +44 20 3327 9720
FTI Consulting (Financial PR)
Matthew O'Keeffe
Mitch Barltrop
Vee Montebello +44 797 607 5797
Further information on the Company can be found on its website
at
https://uk.ecofininvest.com/funds/us-renewables-infrastructure-trust-plc/
.
The Company's LEI is 2138004JUQUL9VKQWD21.
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END
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