The Board of HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, is issuing this Quarterly Update Statement, which relates to the period from 1 April 2016 to 24 July 2016.
Ian Russell, Chairman of HICL Infrastructure Company Limited, said:
“The HICL Group has continued to perform well in the period, making three new investments and an incremental investment, and has a good pipeline of opportunities. Operational performance remains robust with no material new challenges in the portfolio and with cash generation in line with expectations.
All four investments in the period fit the Company’s risk appetite and offer value accretion to the existing portfolio. We remain focused on sourcing attractive, new investments without compromising our clear investment parameters. The Investment Adviser’s team continues to prioritise off-market and limited auction situations, which offer the best opportunities for finding value accretive investments. In light of the outcome of the UK Referendum vote, the Investment Adviser is proceeding cautiously when evaluating potential new investments.
The Board re-affirms the target dividend guidance of 7.65p per share for the current financial year and 7.85p for the financial year ending 31 March 2018. In the current economic environment, the Company and its investment proposition remain attractive to investors seeking cash-covered yield in a well-understood asset class.”
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