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Pin to quick picksBBGI Share News (BBGI)

Share Price Information for BBGI (BBGI)

London Stock Exchange
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Share Price: 176.20
Bid: 175.60
Ask: 176.20
Change: 0.40 (0.23%)
Spread: 0.60 (0.34%)
Open: 176.20
High: 176.20
Low: 176.20
Yest. Close: 175.80
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BBGI SICAV S.A. is an Investment Trust

To provide a unique access to a global portfolio of high-quality infrastructure assets which generate stable, predictable cash flows over the life of government or government-backed contracts that typically extend to more than twenty years in length.

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BBGI SICAV Raises Interim Dividend; Net Asset Value Slightly Lower

Fri, 28th Aug 2020 08:22

(Alliance News) - BBGI SICAV SA on Friday increased its dividend as net asset value per share dipped a little in the first half of 2020, though was slightly higher on an investment basis.

The Luxembourg-based infrastructure investment company reported a net asset value per share of 135.90 pence as at June 30, down 0.6% from 136.72p at the end of 2019.

Its investment basis NAV per share, which represents the residual interest of shareholders after all liabilities have been settled, was up 0.1% at 136.4p from 136.2p on December 31.

The firm declared a 3.59p per share interim dividend, up 2.6% from 3.50p per share the year before. This is consistent with its 2020 dividend target of 7.18p per share - which will also be a 2.6% increase from its 2019 dividend. BBGI plans to pay out 7.22p per share for 2021.

Sarah Whitney, who became chair in late June, said: "I take up the role as chairman at a time of strong company performance, notwithstanding the uncertain economic backdrop. As the headroom for sustained intense monetary policy declines, governments have signalled a renewed fiscal commitment to infrastructure spending as part of a post-pandemic recovery. This is combined with the ongoing low interest rate environment, in which infrastructure investment remains highly attractive, due to the long-term and stable distributions which the asset class and the company provides.

"This will continue to underpin the positive fundamentals for infrastructure investment to which the company will apply a selective acquisition strategy when assessing diverse market opportunities, alongside a primary focus on value preservation.

"As a result, I am confident in the company's ability to maintain robust long-term, predictable and stable income derived from our diversified global portfolio of infrastructure assets."

Shares in BBGI were down 0.2% at 169.80p in London on Friday morning.

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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