Infrastructure investment company International Public Partnerships (IPP) said its portfolio of 22 assets "performed well" in the first four months of the year.
The company's revenue and cash receipts were in line with expectations from January 1st to May 16th as levels of satisfaction remain high amongst public sector clients.
Its top investments include the Ormonde offshore energy transmission project, Diabolo project and Building Schools for the Future portfolio.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Favourable foreign exchange movements have offset a marginal net increase in government bond yields since the end of December.
With that in mind, the group is targeting a full-year 2013 dividend of 6.15p per share, up 2.5% from the previous year.
The company has delivered a total shareholder return of 79.9% since its initial public offering in November 2006.
A total of £46.5m of new capital has been raised from investors by means of tap issuance.
A further £40m was raised in January to support the near term pipeline of opportunities and an additional £6.5m was issued during April and May to satisfy demand for the company's shares that cannot be met through the secondary market.
The group had about £85m of cash available for investment at the end of the period.
"The company's portfolio continues to perform well and the company is confident that there continues to be a number of attractive infrastructure opportunities in the UK and in the overseas jurisdictions in which the advisor is represented and knowledgeable," IPP said.
RD
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
