Over the course of 2021, BBGI Global Infrastructure’s NAV increased from 137.8p to 140.7p and it declared dividends totalling 7.33p, in line with its target. The company has set out dividend targets for the next three years – 7.48p for 2022, rising to 7.63p in 2023 and 7.78p in 2024. It is 10 years since the fund IPOd and so the report also has information on returns since launch – shareholders have enjoyed a healthy 10.4% annualised return over that period.
£79.2m of cash investments were completed in 2021. In addition, the company signed an acquisition agreement in October 2021 for an interest in a healthcare asset in Canada for a price of c. £51m, and completed an additional £24m investment in a clean energy infrastructure asset in Canada in February 2022.
The managers say that the pipeline for availability-based transactions remains generally strong and attractive within the company’s key markets. They anticipate these will come from a variety of sources, including the North American strategic partnership with SNC-Lavalin, which covers four more assets with an expected value in excess of C$200m, and several primary and secondary investment opportunities that they are currently pursuing in Europe and North America.
BBGI : BBGI marks tenth anniversary with another set of solid figures