3i Infrastructure total return declines despite net asset value rise

(Alliance News) - 3i Infrastructure PLC on Thursday reported a rise in net asset value during its most recent financial year despite a decline in total return, as the firm meets its dividend target for the year and aims for further growth in the year ahead.

The Jersey-based infrastructure investment trust managed by 3i Investments PLC said its net asset value per share at March 31 was 386.2 pence, up 6.6% from 362.3p on March 31, 2024.

3i Infrastructure delivered a total return of 10.1% for the year that ended March 31, at GBP333 million, against an 11.4% return the year before, at GBP347 million, and a 14.7% return in financial 2023. Despite the decline, this remained just ahead of the trust's targeted 8% to 10% return per year over the medium term.

The fall was largely driven by a lower fair value movement of derivative financial instruments, as 3i Infrastructure recorded GBP34 million in financial 2025 against GBP73 million a year prior.

"3i Infrastructure continues its long track record of delivering sustainable returns through investing in resilient businesses. I am pleased to report a total return of 10.1% in the year ended 31 March 2025, ahead of our target," said 3i Infrastructure Chair Richard Laing.

"Over the long term, we have consistently met or outperformed our return objective, and we have increased the dividend per share in every year of the company's existence."

3i Infrastructure declared a total dividend of 12.65p per share for the year, up 6.3% from 11.90p in financial 2024. The trust said it was targeting a 13.45p dividend for financial 2026, which would also be up 6.3% on-year.

Shares in 3i Infrastructure were up 1.2% at 333.85 pence each in London on Thursday morning. The stock remains down 4.1% over the past year, however.

By Emily Parsons, Alliance News reporter

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