StockMarketWire.com - 3i Infrastructure reports a total return of £267m for the year to the end of March, or 24.6% on opening net asset value, which was materially above the target of 10%.

The group said the strong performance was driven by the value uplift from the realisation of its interest in Eversholt Rail and valuation gains across its European Core investments.

The total proposed dividend of 7.0 pence per share (£61.7 million in aggregate), or 5.7% on opening NAV, is ahead of the objective for FY2015 of 5.5% (6.77 pence per share)

The company also announced that chairman Peter Sedgwick intends to stand down at the end of this calendar year. He has been chairman since 29 January 2007.

Sedgwick said: " "I am pleased to report a strong total return of 24.6% on opening NAV for the year, which is materially above our annual target, and the highest since our IPO in 2007. The Board is announcing a revised total return target, providing increased flexibility for future investment, as well as a new dividend policy designed to maintain dividend progression each year for our shareholders. We have also increased the size of the Company's revolving credit facility on attractive terms. In combination with the exceptional return generated from the sale of our interest in Eversholt Rail, this facilitates a return of capital to shareholders, while maintaining a good level of liquidity for new investment."




At 8:29am: (LON:3IN) 3i Infrastructure Ltd share price was -0.05p at 163.45p



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