LONDON (dpa-AFX) - HICL Infrastructure (HICL.L), on Tuesday, issued interim update statement for the period April 1, 2021 - July 27, 2021, and said its PPP portfolio continues to perform in line with expectations.
PPP projects represented 71% of portfolio value at 31 March 2021. The company's portfolio performance reflects the Investment Manager's activity during the period focused on the continued and active support of public sector clients and portfolio companies as they adjust to post Covid-19 operational requirements.
The company had declared a fourth-quarter dividend of 2.07 pence per Ordinary Share on May 19, 2021. The shares went ex-dividend on May 27, 2021 and the Q4 dividend was paid on June 30, 2021. The interest streaming percentage for the Q4 dividend was 98%, bringing the total streaming percentage for the fiscal year 2021 to 76%.
On July 21, 2021, the company announced a first quarterly interim dividend for the financial year ending March 31, 2022 of 2.06 pence per Ordinary Share. The interest streaming percentage for the first-quarter dividend would be 49%.
HICL further noted that its Board remains comfortable that cash generation from the portfolio remains in line with forecast and re-affirms the target dividend guidance of 8.25 pence per Ordinary Share for the financial year to 31 March 2022. The Board expects this to be fully cash covered.
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