BlackRock Energy & Resources Dividend Not Affected By Portfolio Move

(Alliance News) - BlackRock Energy & Resources Income Trust PLC on Monday said its ability to pay ...

Alliance News 1 June, 2020 | 5:39PM
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(Alliance News) - BlackRock Energy & Resources Income Trust PLC on Monday said its ability to pay its dividend will not be impaired by a strategic shift in its portfolio.

Back in March, the trust said it intended to increase the focus on exposure to stocks that are benefitting from the transition in the energy sector, away from carbon-based energy supplies towards alternative and renewable sources.

The move was designed to represent a greater proportion of the stocks held within the portfolio in the medium term, the company had said.

The trust on Monday said portfolio managers at BlackRock Investment Managers (UK) Ltd will begin transitioning the company's portfolio to reflect the increased focus on alternative and renewable energy

sources.

Further, the development of the portfolio is not anticipated to impair the company's ability to pay the target dividend on the company's shares which will remain at 4.0 pence per share for the current financial year, it said.

The stock closed up 0.1% at 55.26p on Monday.

By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BlackRock Energy and Resources Income 60.99 GBX -1.63

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