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BBGI Global Infrastructure announces new dividend target alongside lacklustre results

BBGI Global Infrastructure announces new dividend target alongside lacklustre results – BBGI Global Infrastructure (BBGI) has released its interim results for the six months to 30 June 2021. During the period, its NAV per share remained flat with its NAV stable at 137.8 pence per share. The company reiterated that it has delivered a total shareholder return since IPO of 165%, or 10.8% on a compound annual basis.

The chairman said: Despite the uncertainty, the Company’s interim performance was again in line with our expectations. The portfolio has not experienced any material adverse operational or financial impact from the pandemic which has demonstrated the predictability of our portfolio’s underlying cash flows. This underpins the robustness of the Company’s strategy of building a 100 per cent availability-based infrastructure investment portfolio. Our availability level remained very high at 99.9 per cent, and we continued to operate without any material interruptions.”

Meanwhile, the board also announced a new dividend target for 2023 of 7.63 pence per share, an increase of 2% over the 2022 dividend target. It said the outlook for global infrastructure investment is robust, and there continues to be strong competition for the types of assets in which it invests. The value of an availability-based and globally diversified portfolio has strengthened thanks to the proven resilience of these types of assets against external shocks such as the Covid-19 pandemic.

The chair added: “We continue to demonstrate our competitive differentiation to both the marketplace – in originating new acquisitions – and to our shareholders, as we deliver the benefits of a proven investment proposition. This will continue to be at the foundation of all we do as we look to mark our tenth anniversary as a public company later in the year. For these reasons, we remain confident in the Company’s ability to maintain long-term, predictable, and stable income to our shareholders, and to fulfil our social purpose in communities where the assets operate.”

BBGI : BBGI Global Infrastructure announces new dividend target alongside lacklustre results

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