Index inclusion underpins the re-rating case

Cordiant Digital Infrastructure’s FY26 results (year-end 31 March 2026) cap a five-year record of compounded NAV and dividend growth, supported by continued operational delivery across its six-platform portfolio. The NAV total return was 16.3% on ex-dividend opening NAV, or 12.3% before forex, while the 4.45p dividend increased by 2.3% and remained 1.7x covered by adjusted funds from operations. UK 250 index inclusion, effective 22 June, should broaden the shareholder base and improve liquidity. With the shares trading on a c 16% discount to NAV, we believe the re-rating case rests on this delivery being recognised and the portfolio’s growth opportunities.