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Greencoat UK Wind delivers strong return buoyed by acquisitions

Renewables group Greencoat UK Wind PLC (LON:UKW) delivered a strong financial performance and a chunky dividend despite electricity generation being slightly below budget. Acquisitions added a further three wind farms to the portfolio in the year just gone, taking it to 32 separate investments generating 2,003GWh of electricity (6% down on expectations). Greencoat's Stephen Lilley tells Proactive London what's in the further acquisition pipeline and what investors can expect in terms of newsflows over the next few months. Cash generation was on target at £117.3mln, allowing the company to pay a 6.76p a share dividend (representing a yield of just under 5%). The pay-out was 1.6-times covered by net profits and the plan is to declare a 6.94p divi for 2019. The company aims to match increases in the dividend to retail price inflation. Greencoat’s target return to investors is an IRR net of fees and expenses of 8-9%. The net asset value as at December 31 was 123.1p, up 11.8p from the same time last year.

Quick facts: Greencoat UK Wind PLC

Price: 133.99 GBX

LSE:UKW
Market: LSE
Market Cap: £2.03 billion
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Greencoat Capital makes third acquisition this year with 49% stake in Humber...

Greencoat UK Wind PLC (LON:UKW) Stephen Lillie talks to Proactive London about the agreement to acquire a 49% stake in the Humber Gateway offshore wind farm as part of a consortium with several pension funds. This represents their third acquisition this year and means the specialist wind...

on 24/11/20

2 min read