Octopus Renewables Announces Dividend Declaration
Source: www.gulfoilandgas.com 11/4/2024, Location: Europe
The Board of Octopus Renewables Infrastructure Trust plc is pleased to declare an interim dividend in respect of the period from 1 July 2024 to 30 September 2024 of 1.50 pence per ordinary share, payable on 29 November 2024 to shareholders on the register at 15 November 2024 (the "Q3 2024 Dividend"). The ex-dividend date will be 14 November 2024.
A portion of the Company's dividend is designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q3 2024 Dividend is 55.4%.
The Q3 2024 Dividend is in line with the Company's dividend target for the financial year from 1 January 2024 to 31 December 2024 of 6.02 pence per ordinary share*. The FY 2024 target represents an increase of 4.0% over FY 2023's dividend cover which is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2023, and marks the third consecutive year the Company has chosen to increase its dividend target in line with inflation. The FY 2024 dividend target is expected to be fully covered by cashflows generated from the Company's operating portfolio.
