StockMarketWire.com - Wind and solar investor Octopus Renewables Infrastructure Trust posted a positive first-half performance, having paid an interim dividend in line with its IPO targets.

The company's net asset value per share at 30 June was 97.58p.

It said its total shareholder return since it listed on 10 December was 12.2%.

Octopus Renewables paid an interim dividend of 1.06p per share for the period from IPO to 30 June, paid on 21 August 2020.

It said the payment was in line with its stated dividend target at IPO of a 3% annualised yield, equating to 3.18p per share for the 2020 financial year.

Dividends were expected to be declared quarterly henceforth, it added.

'I am very pleased to report that solid progress has been made since IPO, deploying 59% of net proceeds as at 30 June 2020 and following the latest acquisition of solar PV assets, the Company has now committed 75% of net IPO proceeds,' chairman Phil Austin said.

'The board remains confident that despite the uncertainty caused by the COVID crisis there continue to be many opportunities that are attractive to ORIT and consistent with its investment policy.'

'ORIT is currently pursuing a pipeline of around £3.8bn and we are confident that the balance of IPO proceeds will be fully committed during the autumn.'




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