NextEnergy Solar to increase dividend for eleventh consecutive year

(Alliance News) - NextEnergy Solar Fund Ltd on Wednesday announced its fourth interim dividend.

A 2.09 pence per share dividend is to be paid for the final quarter ended March 31.

This bring the total dividend for the year to 8.35p, aligning with the company's previously stated target.

The dividend will be paid to shareholders on June 28.

In addition, Next Energy revealed it approved a new target to increase the dividend for the current financial year by 1% to 8.43p. This latest target represents the eleventh consecutive year of dividend growth.

Chair Helen Mahy commented: "[The dividend] evidences the strong position the company finds itself in despite a challenging macroeconomic backdrop for the wider sector. NextEnergy Solar Fund's dividend per ordinary share is one of the highest among the listed renewable energy investment company sector demonstrating its resilience."

NextEnergy shares were up 1.4% to 78.07 pence each in London on Wednesday afternoon.

By Elijah Dale, Alliance News reporter

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