Mon 29 Jan 2024 07:00
RNS Number : 1221B
Octopus Renewables Infra Trust PLC
29 January 2024
LEI: 213800B81BFJKWM2JV13
Octopus Renewables Infrastructure Trust plc
("ORIT" or the "Company")
Dividend Declaration
The Board of Octopus Renewables Infrastructure Trust plc is pleased to declare an interim dividend in respect of the period from 1 October 2023 to 31 December 2023 of 1.45 pence per ordinary share, payable on 23 February 2024 to shareholders on the register at 9 February 2024 (the "Q4 2023 Dividend"). The ex-dividend date will be 8 February 2024.
A portion of the Company's dividend is designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q4 2023 Dividend is 59.6%.
The Q4 2023 dividend is the final of four dividends totalling 5.79 pence per ordinary share for the financial year to 31 December 2023 ("FY 2023"), meeting the Company's FY 2023 dividend target in full. The dividend is fully covered by cashflows arising from the Company's portfolio of assets.
As announced on 18 January 2024, and in line with the Company's dividend policy, the target for the financial year from 1 January 2024 to 31 December 2024 ("FY 2024") is 6.02 pence per ordinary share*. This increase of 4.0% over FY 2023's dividend cover is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2023, and marks the third consecutive year the Company has chosen to increase its dividend target in line with inflation. The FY 2024 dividend target is expected to be fully covered by cashflows generated from the Company's operating portfolio.
https://www.hl.co.uk/shares/shares-search-results/o/octopus-renewables-infra-trust-ord-gbp0.01/share-news
The dividend declaration section is on the right side of the HL page.
I hold some of this IT in my ISA income portfolio and have done since its launch in December 2019. After payment and at today's price the trailing 4 quarter yield will be 6%.
midgesgalore