Octopus Renewables Infrastructure Trust plc (LON:ORIT) has declared an interim dividend in respect of the period from 1 January 2024 to 31 March 2024 of 1.50 pence per ordinary share, payable on 31 May 2024 to shareholders on the register at 17 May 2024. The ex-dividend date will be 16 May 2024.
A portion of the Company’s dividend is designated as an interest distribution for UK tax purposes. The interest streaming percentage for the Q1 2024 Dividend is 55.1%.
The Q1 2024 Dividend is in line with Octopus Renewables Infrastructure Trust’s dividend target for the financial year from 1 January 2024 to 31 December 2024 of 6.02 pence per ordinary share*.
The Company has a progressive dividend policy and this dividend target for FY 2024 represents an increase of 4.0% over FY 2023’s dividend, in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2023 and marking the third consecutive year the Company has chosen to increase its dividend target in line with inflation.
*The dividend target stated in this announcement is a target only and not a profit forecast. There can be no assurance that this target will be met, or that the Company will make any distributions at all and it should not be taken as an indication of the Company’s expected future results. The Company’s actual returns will depend upon a number of factors, including but not limited to the Company’s net income and level of ongoing charges. Accordingly, potential investors should not place any reliance on this target and should decide for themselves whether or not the target dividend is reasonable or achievable. Investors should note that references in this announcement to “dividends” and “distributions” are intended to cover both dividend income and income which is designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investment trusts.
Octopus Renewables Infrastructure Trust is a premium-listed, closed-ended investment company incorporated in England and Wales focused on providing investors with an attractive and sustainable level of income returns, with an element of capital growth, by investing in a diversified portfolio of renewable energy assets in Europe and Australia.
