JLEN : John Laing Environmental says fire will not affect dividend
A fire that struck John Laing Environmental’s Frog Island Mechanical Biological Treatment Facility in East London has been brought under control. The full extent of the damage is still being assessed. The facility is fully insured and John Laing Environmental says it expects the facility will be reinstated once insurers agree.
Contingency plans have been put in place – most of the waste that would have gone to Frog Island has been diverted to John Laing Environmental’s other treatment facility at Jenkins Lane. They say they are working with the local councils affected to minimise the impact on the collection of waste.
The fund will make another announcement when things become clearer but they have said that the fire will not impact on the ability of the fund to pay its target dividend amount (as set out in its prospectus).