StockMarketWire.com - Wind farm investor Renewable Infrastructure Group reaffirmed its guidance for a higher annual dividend, despite its performance slipping in the first half.

Pre-tax profit for the six months through June dropped to £16.3m, down from £122.2m on-year owing, in part, to lower gains on investments and higher finance costs.

Renewable Infrastructure Group, also known as TRIG, said it was still targeting a full-year dividend of 6.76p per share, up from 6.64p in 2019.

It declared a dividend for the first half of 3.35p per share. Its net asset value per share over the period fell 1.7% to 113.0p.

'The challenges during the first half of this year have been significant for many companies, including TRIG,' chairman Helen Mahy said.

'In light of this backdrop, I am pleased to report that our financial performance has remained resilient, sustained by strong operational performance.'

'TRIG's sustainability objectives have never been more relevant as Europe seeks to recover from the Covid-19 pandemic.'

'Climate change remains a pressing concern, and the company's investments will continue to be instrumental in mitigating climate change and preserving the natural environment.

'The company also seeks to have a positive effect on the communities we partner with and work in and, to that end, the company has committed a further half a million pounds to support the communities around our assets in their response to the pandemic.'

'Looking ahead, our robust and diversified portfolio and our capable management team give me confidence that we will continue to provide our shareholders with sustainable returns through responsible investment.'




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