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(Alliance News) - 3i Infrastructure PLC said Monday it remains on-track to deliver its full-year dividend target of 9.20 pence per share, as its overall portfolio performance over the period from April to September was in line with expectations.
The dividend target reflects a 6.4% increase from 8.65 pence paid the year before.
The FTSE 250-listed investment company said that for the first six months of its 2020 financial year, portfolio income totalled GBP51 million, alongside GBP6.0 million in non-income cash.
Collectively, portfolio and non-income cash was GBP57 million, down from GBP132 million a year before.
As at September 27, 3i held GBP17 million in cash and an undrawn balance of GBP108 million on its revolving credit facility.
In its portfolio, the company said its newest investment, Joulz Diensten BV, a Dutch energy services provider, performed ahead of expectations in the first months since its acquisition.
However, transport and logistics holding company Oystercatcher lagged on softer demand for capacity, while waste treatment firm Attero faces uncertainty over a proposed tax on waste imports from the Netherlands.
"Building on a strong performance in recent years, the company has made a good start to the year, delivering a total shareholder return for the period of 8%. We are on track to meet our target return and dividend target for the year," said Chair Richard Laing.
3i Infrastructure will publish its interim results on November 7.
Shares in 3i Infrastructure were 0.3% at 292.85 pence on Monday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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