NextEnergy Solar Fund announces dividend target increase and strategic achievements
London, UK
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May 15, 2024 08:02 AM Eastern Daylight Time
NextEnergy Solar Fund Ltd (LSE:NESF) manager Ross Grier joined Proactive's Stephen Gunnion with news of a significant increase in its latest dividend, marking the 11th consecutive year of dividend growth. The solar energy investment company offers a dividend yield of approximately 11%, which Grier highlighted as one of the highest in the sector and across the FTSE 250. This makes NESF an appealing investment for those seeking steady income, Grier told Proactive.
Grier explained that NESF's success is underpinned by a robust portfolio of physical infrastructure assets, providing stability in portfolio value and exceptional annual yields. Since its initial public offering, NESF has returned about £345 million in dividends to its investors, equating to approximately £0.68 per £1 invested initially.
Additionally, NESF has reached a milestone of 1 gigawatt of installed capacity, distinguishing itself among its peers and contributing significantly to the transition towards a net-zero future.
Grier also mentioned recent strategic financial maneuvers, including the refinancing of revolving credit facilities at attractive rates and ongoing capital recycling efforts, which are expected to reinforce the fund's balance sheet and support sustainable growth.
Overall, these strategic and operational highlights align with NESF's long-term mission to deliver consistent returns and contribute to environmental sustainability through renewable energy investments.
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