IN BRIEF: NextEnergy Solar Fund NAV per share dips but lifts payout

NextEnergy Solar Fund Ltd - London-based solar power renewable energy investment company - ...

Alliance News 17 June, 2021 | 11:01AM
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NextEnergy Solar Fund Ltd - London-based solar power renewable energy investment company - Reports net asset value per share of 98.9p as at March 31, down slightly from 99.0p a year ago. Net asset value GBP581 million at year-end, up slightly from GBP579 million a year before. Says main detractors during the year were a decrease in long-term power price forecasts, a downward revision in short-term inflation forecasts and increased corporation tax rate from 2023 onwards. Gets boost from decrease in unlevered discount rate and "company's operating outperformance".

Approves fourth interim dividend of 1.7625p share, bringing the total payout for the year to 7.05p, up from 6.87p the year before. Is targeting total dividend of 7.16p for financial year ahead.

"In a period dominated by the uncertainty and challenges brought about by the Covid-19 pandemic, NESF has continued to perform well and implement its strategy, resulting in portfolio growth and an attractive dividend," says Chair Kevin Lyon.

Current stock price: 99.48p

Year-to-date change: down 6.7%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
NextEnergy Solar Ord 102.40 GBX 0.00 -

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