Bluefield Solar Income Fund (LSE:BSIF) has reaffirmed its full-year dividend target and said it continues to assess options to tackle the company’s persistent share price discount.
The London-listed renewables investor declared a second interim dividend of 2.2p per share, matching the previous payout. It reiterated guidance for a full-year dividend of no less than 8.9p, covered by earnings and after debt repayments.
The company said it remained committed to exploring “strategic initiatives” to close the valuation gap and would update shareholders when appropriate.
Net asset value slipped to £728.3 million, or 123.01p per share, at 31 March, down from 126.03p at the end of December. The decline reflected the impact of a slightly lower power and Renewable Energy Guarantee of Origin (REGO) prices, which offset gains from new construction activity.
The company’s pipeline of construction and consented projects was valued at 105 million pounds, bolstered by a £5.4 million rise in construction-stage assets. That was partially offset by reduced valuations for battery storage developments, following changes to grid costs and lower market premiums.
Bluefield completed a £20 million share buyback in January, adding 0.8p per share to NAV.
Gearing rose slightly to 44% of gross asset value, up from 43% at the end of 2024.
The second interim dividend will be paid around 27 June, with an ex-dividend date of 22 May.