StockMarketWire.com - HICL Infrastructure Company said Friday its portfolio had performed in line with expectations from October through February, keeping it on track to meet its dividend guidance.

The company said it was still on track to achieve the target dividend of 8.05p per share for the year to 31 March 2019, and reiterated the dividend guidance previously published of 8.25p per share for the next financial year to March 2020 and 8.45p per share for the following year to March 2021.

The company's consortium with Diamond Transmission Corporation -- that was selected by Ofgem as the preferred bidder to own and operate the Galloper offshore windfarm transmission infrastructure -- was now the preferred bidder on two bids for offshore transmission owner projects, the other being the Race Bank OFTO which was due to reach financial close in second quarter of 2019.

The resilience of public private partnership (PPP) projects, which made up 70% of portfolio value at 30 September 2018, remained at the core of the company's long-term performance, HICL added.

During the period from 1 October to through February, further value enhancement was delivered through the completion of the construction phase of the Irish Primary Care Centres PPP project.

Looking ahead, the company said its investment adviser continued to seek opportunities in greenfield PPP projects across its target geographies - UK, Europe, North America and Australia / New Zealand.

But admitted that market pricing remained elevated and competition was high for good quality assets in the company's target markets.

The Investment Adviser regularly assessed opportunities and, where deemed appropriate, made bids on behalf of HICL with a 'strong focus on maintaining the discipline necessary to ensure that new acquisitions improve the Company's accretion metrics for the portfolio,' HICL said.




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