John Laing Environmental Assets Grp Net Asset Value and Dividend (4822H)
18 August 2016 - 8:00AM
UK Regulatory
TIDMJLEN
RNS Number : 4822H
John Laing Environmental Assets Grp
18 August 2016
18 August 2016
JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED
("JLEN" or the "Company")
Net Asset Value and Dividend announcement
JLEN, the listed environmental infrastructure fund, announces
its unaudited Net Asset Value ("NAV") as at 30 June 2016 and
interim dividend for the quarter ended on that date.
The Company's unaudited NAV as at 30 June 2016 was GBP252.9
million or 97.1 pence per share, compared to GBP216.9 million or
96.7 pence per share as at 31 March 2016.
Short term electricity prices increased over the June quarter
leading to an improvement in the NAV calculations for the period.
This short term improvement is offset by a slight reduction in
forecasts for longer term energy prices from an established market
consultant.
Availability across the environmental processing assets and the
renewables portfolio during the last quarter has generally been
good, with some technical issues experienced at Branden solar now
resolved. Generation for the renewables portfolio during the
quarter was below budget owing to both low wind resource and
irradiation levels being experienced. The waste management and
wastewater treatment facilities were at or ahead of budgeted
volumes.
The Company also announces a quarterly interim dividend of 1.54
pence per share for the period from 1 April 2016 to 30 June 2016,
in line with the dividend target set out in the 2016 Annual
Report.
Dividend Timetable
Ex-dividend date 25 August 2016
Record date 26 August 2016
Payment date 23 September 2016
For further details contact:
John Laing Capital Management Limited 020 7901 3559
David Hardy
Chris Tanner
Winterflood Investment Trusts 020 3100 0000
Neil Langford
Chris Mills
About JLEN
JLEN's investment policy is to invest in environmental
infrastructure projects that have the benefit of long-term,
predictable, wholly or partially inflation-linked cash flows
supported by long-term contracts or stable regulatory
frameworks.
Environmental Infrastructure is defined by the Company as
infrastructure projects that utilise natural or waste resources or
support more environmentally-friendly approaches to economic
activity. This could involve the generation of renewable energy
(including solar, wind, hydropower and biomass technologies), the
supply and treatment of water, the treatment and processing of
waste, and projects that promote energy efficiency.
JLEN aims to provide investors with an annual dividend per
share, initially of 6.0 pence, that increases progressively in line
with inflation from 1 April 2015. The target dividend for the year
to 31 March 2017 is 6.14 pence per share being the initial target
of 6.0 pence per share adjusted for inflation.
Further details of the Company can be found on its website
www.jlen.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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