QuotedData’s morning briefing 22 May 2024 – IHR, USF

a pair of glasses sitting on the corner of a newspaper

In QuotedData’s morning briefing 22 May 2024:

  • Impact Healthcare REIT (IHR) posted a 1.7% increase in NAV per share to 117.31p in the quarter to 31 March 2024. The value of its portfolio of care homes was up 1.5% to £660.8m, with contracted annual passing rent up 4% to £50.1m. Rent cover among its tenants was 2.0x – the highest annual rent cover since the company’s inception in 2017. A dividend of 1.7375p was paid in line with its target annual dividend of 6.95p.
  • US Solar Fund (USF) survived its continuation vote at its AGM yesterday. 74.4m shares voted to discontinue the trust and 139.0m shares voted to keep it going. There was a similar split when it came to reappointing the chair Gillian Nott as a director, with 148m shares in favour and 79.6m against. The board said “The board will continue its engagement with shareholders and notes that discussions with shareholders since the announcement of the tender offer have been constructive. In the view of the board and investment manager, the plans set out last month regarding the tender offer, interim dividend policy and refinancing plans, reflect the best approach to deliver maximum value for all shareholders. Wide-ranging support from shareholders for the company’s strategy has been expressed. The board and investment manager look forward to continuing constructive and supportive discussions with all shareholders.”

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