(Alliance News) - Riverstone Credit Opportunities Income PLC on Thursday hiked its dividend as its performance improved in 2020.
The investment firm, focused on loans within the energy sector, reported net asset value per share as at December 31 of USD1.04, up from USD1.01 reported at the end of 2019.
Total comprehensive income for the year was USD7.4 million, more than doubled from USD3.4 million reported a year prior.
The company said it had made six investments and four full realisations in 2020, despite the energy industry facing many challenges, with Covid-19 pandemic adding further volatility.
Riverstone Credit Opportunities Income said the dividend for the quarter to the end of 2020 will be 2.00 cents per share, payable on March 26 to holders of shares on the register on February 26. Dividends with respect to 2020 were 7.00 cents per share, up from 2.57 cents paid a year prior.
"While 2020 was a challenging year, I appreciate the support of our shareholders during this period and look forward to a more favourable market environment in 2021," said Chair Reuben Jeffery.
Riverstone Credit Opportunities Income shares were untraded in London on Thursday, last closing at USD0.75 each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Riverstone Cred (RCOI)