Half-yearly results to 30 June 2017, Net Asset Value and Dividend Announcement
 
Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in operating UK wind farms. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of portfolio leverage.
 
Highlights

• The Group's investments generated 626.6GWh of electricity, 2 per cent. above budget. 
• Net cash generation (Group and wind farm SPVs) was £39.2 million.
• Acquisition of Langhope Rig and Bishopthorpe increased the portfolio to 21 wind farm investments, net generating capacity to 452MW and GAV to £984.7 million as at 30 June 2017.
• The Company declared total dividends of 3.245 pence per share with respect to the period.
• £175 million outstanding borrowings at 30 June 2017, equivalent to 18 per cent. of GAV.

Commenting on today's results, Tim Ingram, Chairman of Greencoat UK Wind, said:

We are pleased to report the continued good performance of our portfolio, with good cash generation, over budget production, an increase in the dividend and strong dividend cover."

During the period, we added two high quality wind farm investments to the portfolio. In March, we acquired Langhope Rig and in June we acquired Bishopthorpe. These acquisitions continue to demonstrate the Group's ability to source and execute transactions on terms that we consider to be advantageous to shareholders.

NAV

The Company announces that its unaudited Net Asset Value as of 30th June 2017 is £809.7 million (109.8p per share). The Company's June 2017 Factsheet is available on the Company's website.

Dividend Announcement

The Company also announces a quarterly dividend of 1.6225p per share in respect of the period from 1 April 2017 to 30 June 2017.

Dividend Timetable

Ex-dividend date 10 August 2017
Record date 11 August 2017
Payment date 25 August 2017
 

Key Metrics

As at 30 June 2017:

Market Capitalisation - £893.6 million

Share price - 121.2 pence

Dividends with respect to the period - £23.9 million

Dividends with respect to the period per share - 3.245 pence

GAV - £984.7 million

NAV - £809.7 million

NAV per share - 109.8 pence