logo-loader
viewGreencoat UK Wind PLC

Greencoat UK Wind higher as it reports rise in fourth quarter net asset value, hike in 2019 target dividend

The wind farm investor announced a quarterly interim dividend of 1.69p per share for the quarter ended 31 December 2018 and an increase in the target dividend for 2019 to 6.94p per share

Wind turbine
In early morning trading, Greencoat UK Wind shares were 3.9% higher at 134.40p

Greencoat UK Wind PLC (LON:UKW) saw its shares rise on Friday as the wind farm investment group revealed that its unaudited net asset value increased to £1,392.8mln, or 123.1p per share as of 31 December 2018.

The FTSE 250-listed firm said this represents an increase of 8.1p per share for the fourth quarter - in addition to dividends paid of 1.69p – with 6.7p of the rise attributable to amending the assumed asset life from 25 to 30 years on a conservative basis, following a third party technical assessment of its portfolio.

READ: Greencoat UK Wind adds more capacity in Scotland with Douglas West purchase

The company added that, during the fourth quarter, generation was on budget and power prices were above budget. However, it noted, generation for the full year was 6% below budget due to low wind resource, although cash generation was on budget owing to higher power prices.

The company also announced a quarterly interim dividend of 1.69p per share for the quarter ended 31 December 2018 and an increase in the target dividend for 2019 to 6.94p per share, in line with the Retail Prices Index for December 2018.

Greencoat UK Wind said it will release its annual results for the period to 31 December 2018 on Thursday 28 February 2019.

In early morning trading, Greencoat UK Wind shares were 3.9% higher at 134.40p.

Quick facts: Greencoat UK Wind PLC

Price: 146.5184 GBX

LSE:UKW
Market: LSE
Market Cap: £2.22 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Greencoat UK Wind PLC named herein, including the promotion by the Company of Greencoat UK Wind PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Greencoat UK Wind close to powering 1 mln UK homes as size of portfolio surges

Greencoat UK Wind’s (LON:UKW) manager Stephen Lilley was happy with the first half performance even though wind speeds were slightly lower than expected. The group bought four assets over the first half of the year worth £611mln, including its first deal for an asset without a ROC...

on 29/7/19

2 min read