HICL Infrastructure has released its results for the year ended 31 March 2014. The net asset value rose from 116.4p to 123.1p over the period and this, coupled with a dividend of 7.1p meant the total return on net assets was 11.9%. In the current year HICL Infrastructure is switching to paying quarterly dividends and the Board are targeting a total dividend of 7.25p.
HICL Infrastructure made 16 new investments during the year, spending £230m on these and six purchases of additional stakes in projects they already held.
HICL say the price of new investments in the UK has been pushed up as more money chases these deals. They are looking further afield at projects in France, Ireland and Australia.