(Alliance News) - Renewables Infrastructure Group Ltd on Wednesday reported an increase in its 2020 dividend amid a rise in value of its portfolio and net assets.
The FTSE 250-listed investment trust said its portfolio generated 3,953 gigawatt hours of electricity in 2020, up from 3,036 gigawatt hours generated in 2019.
The company reported net asset value per share of 115.3 pence as at December 31 compared to 113.0p posted at the end of June and 115.0p at the end of December 2019.
Renewables Infrastructure Group said its portfolio valuation was GBP2.21 billion as at the end of 2020, up from GBP1.75 billion, following six acquisitions.
The company declared dividends of 6.76p per share in line with the target for 2020 and up from 6.64p paid the year prior. Dividend target for 2021 stands at 6.76p per share, it noted.
"I am pleased that in light of the Covid-19 backdrop, Renewables Infrastructure Group's financial performance has been resilient, including an increase in the company's NAV per share, underpinned by a diversified portfolio and robust operational performance," said Chair Helen Mahy.
Renewables Infrastructure Group shares were trading 0.2% lower in London on Wednesday at 128.39p each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Renewables Infrastructure Group (TRIG)