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Renewables Infrastructure Group forecasts flat dividend for 2021
StockMarketWire.com
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Green energy investor The Renewables Infrastructure Group forecast a flat dividend for 2021 after its annual profit was hurt by by lower power price forecasts amid the pandemic.
Net profit for the year through December fell 38% to £100.2 million amid lower gains on investments.
The company's net asset value per share edged up to 115.3p, from 115.0p at the end of December.
TRIG declared a fourth interim dividend of 1.69p per share to bring the aggregate 2020 dividend to 6.76p, in line with the target set for the year.
Citing an uncertain backdrop owing to the pandemic, it said it was targeting an unchanged dividend of 6.76p per share for 2021.
Its portfolio had generated 3,953 gigawatt hours of electricity in the year, up from 3,036GWh in 2019.
'I am pleased that in light of the Covid-19 backdrop, TRIG's financial performance has been resilient, including an increase in the company's NAV per share, underpinned by a diversified portfolio and robust operational performance,' chairman Helen Mahy said.
Story provided by StockMarketWire.com
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