The Renewables Infrastructure Group delivered a 10.9% return to shareholders over the first half of 2015, including a dividend of 3.08p which they say was well covered by cash earnings. This results in a dividend target of 6.19p in aggregate per share in respect of the year to 31 December 2015. Looking further ahead, the Board reaffirms its intention to grow the dividend with UK inflation over the medium term. The NAV rose to 102.5p but the changes in the budget reduced that to 98.6p. They say the portfolio generated 570GWh, exceeding production expectations set at acquisition by 6.3%.
There were 36 investments (24 onshore wind and 12 solar) and 658MW of net generating capacity at the period end – they bought one more solar park in addition to the wind farm deal they did with Fred Olsen Renewables.
TRIG : Renewables Infrastructure power production beats expectations