HICL Infrastructure Share News (HICL)

(Sharecast News) - HICL Infrastructure reiterated its dividend target as the investment company reported rising asset values and shareholder returns in the first half.
Net asset value per share rose to 155.4p in the six months to the end of September from 152.3p six months earlier. Annualised total shareholder return was 9.8%.

Pretax profit rose to £139.2m from £104.1m a year earlier as income increased to £157.2m from £121.9m. HICL said it was on track to pay a dividend of 8.25p per share for the year to the end of March in line with its target.

Chairman Ian Russell said he expected HICL's inflation-linked returns to be attractive to investors with prices rising globally.

"I am pleased to report a strong result for the period, with a return to NAV growth and a cash covered dividend," Russell said. "The HICL portfolio's long-dated, inflation linked and predictable cashflows give the Board the confidence to re-affirm the 8.25p target dividend for the year."

HICL shares edged up 0.1% to 172.2p at 08:12 GMT.