Jlen Environmental Assets Grp Net Asset Value and Dividend Declaration (8751O)
12 Febrero 2021 - 01:00AM
UK Regulatory
TIDMJLEN
RNS Number : 8751O
Jlen Environmental Assets Grp
12 February 2021
12 February 2021
JLEN ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Net Asset Value and Dividend announcement
JLEN, the listed environmental infrastructure fund, announces
its unaudited Net Asset Value ("NAV") as at 31 December 2020 and
interim dividend for the quarter ended on that date.
The Company's unaudited NAV as at 31 December 2020 was GBP524.1
million or 95.9 pence per share, compared to GBP525.3 million or
96.1 pence per share as at 30 September 2020.
Portfolio update
During the financial year to date, the renewables portfolio of
the Company has continued to perform well and the anaerobic
digestion ("AD"), wind and solar portfolios are all meeting or
exceeding their generation budgets. The waste and the wastewater
concession-based projects continue to meet contractual targets and
to deliver distributions in line with expectations.
Energy generation is 0.5% above budget for the financial year to
date. This is excluding the Bio Collectors food waste processing
plant which, as previously reported, is the only asset in JLEN's
portfolio which has experienced any material impact as a result of
the ongoing pandemic.
JLEN has continued to diversify its portfolio during the quarter
to 31 December 2020, having acquired a minority stake in a
portfolio of five Compressed Natural Gas refuelling stations for
heavy goods vehicles, located in the UK. This is the Company's
first investment into biomethane refuelling infrastructure, and it
is anticipated that this investment will help to decarbonise one of
the most emission-intensive parts of the transport sector. Post the
quarter end in February 2021, the Company made a second investment
into food waste processing facilities with the acquisition of
Codford Biogas, a gas-to-electricity plant with a capacity of
3.8MWe located in Wiltshire, UK.
Dividend
The Company announces a quarterly interim dividend of 1.69 pence
per share for the quarter ended 31 December 2020, in line with the
dividend target of 6.76p per share for the year to 31 March 2021(1)
, as set out in the 2020 Annual Report. The Company reiterates its
expectation of meeting that target.
Dividend Timetable
Ex-dividend date 4 March 2021
Record date 5 March 2021
Payment date 26 March 2021
Capital Markets Event
The Company is pleased to announce that it will hold a Capital
Markets Event on Wednesday 17 March 2021. More details and a
registration link for the event will be circulated in due
course.
For further details contact:
Foresight Group +44(0)20 3667 8100
Chris Tanner
Chris Holmes
Winterflood Investment Trusts +44(0)20 3100 0000
Neil Langford
Chris Mills
SEC Newgate +44 (0)20 3757 6882
Elisabeth Cowell
Praxis Fund Services +44(0)1481 755530
Matt Falla
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
JLEN's aim is to provide investors with a sustainable,
progressive dividend per share, paid quarterly and to preserve the
capital value of the portfolio over the long term on a real basis.
The target dividend for the year to 31 March 2021 is 6.76 pence per
share(1) .
Further details of the Company can be found on its website
www.jlen.com
LEI: 213800JWJN54TFBMBI68
(1) These are targets only and not profit forecasts. There can
be no assurance that these targets will be met or that the Company
will make any distributions at all.)
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END
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