LONDON (Alliance News) - SQN Asset Finance Income Fund Ltd on Monday said it has a "robust" pipeline of opportunities, with "more than sufficient" deal flow to deploy the balance of the net proceeds of its issue of C shares in November.
The equipment leasing fund, which aims to generate regular, sustainable dividends and capital gains by investing in "business-essential" equipment, said it will "carefully" select and structure transactions from its pipeline to "optimise" the portfolio balance.
Unaudited estimated NAV per ordinary share, including income, was 99.60 pence on January 31, including a 0.6042p per ordinary share dividend announced in January. On a pro-forma basis, the unaudited estimated NAV per ordinary share, adjusted for the payment of the dividend to holders of ordinary shares, amountes to 99.00 pence.
As of the end of January, the fund's unaudited estimated NAV per C share was 98.49p.
The fund announced a dividend of 0.6042p per ordinary share for the month of January, reflecting an annualised dividend of 7.25 pence per share.
In addition, a maiden interim dividend on the C shares of 0.30 pence per C share for the period from admission to January 31 was declared.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.