International Public Partnerships Targeting a dividend of 6.45p for 2014

INPP : International Public Partnerships Targeting a dividend of 6.45p for 2014

International Public Partnerships recent interims report underlying NAV growth of 1.8% during the six months to 30 June 2014, with a fully covered cash interim dividend declared at 3.15p per share (up c.2.5% year-on-year from 3.075p for the interim dividend for 2013). The target total dividend for 2014 is 6.45p per share, which represents approximately a 2.5% increase for both dividends. IFRS profit before tax, for the first half, is up 20.5% year on year to £35.9m.

INPP made investments of £20.1m during the first half and agreed divestments, in non-strategic assets, of £18.8m. Since the half year end, INPP has committed approximately £70m to fund five batches of schools delivered through the Priority Schools Building Programme and has completion construction of two overseas projects: – Gold Coast Rapid Transit, Australia and the Federal German Ministry of Education and Research headquarters. INPP reports that it has a significant pipeline of investment opportunities in new infrastructure assets, particularly in the education and offshore transmission sectors.

International Public Partnerships invests in public infrastructure assets, such as PFI and PPP, both in the UK and abroad. It seeks to provide an internal rate of return of 8-9% on the initial public offer issue price of 100 pence per share by offering investors exposure to public infrastructure assets, through a combination of income and capital gains.