News Column

3i Infrastructure Reports Portfolio Income Uplift In First Quarter

July 8, 2014

Samuel Agini

LONDON (Alliance News) - 3i Infrastructure PLC Tuesday said its first-quarter portfolio income, or the dividends and interest it makes from its portfolio assets, increased by 8.9%, helped in part by a 29% increase in the value of shares in portfolio holding Adani Power Ltd.

In a statement, 3i Infrastructure said that portfolio income totalled GBP19.5 millionbetween April 1 and June 30, compared with GBP17.9 million in the corresponding quarter a year earlier. During the first-quarter the company sold part of its stake in Indian thermal-power generating company Adani Power, with GBP7.4 million in distributions received by the 3i India Infrastructure Fund.

"The European portfolio continued to perform well operationally and financially and to generate good levels of income, consistent with the company's objective of paying an annual dividend of 5.5% of its opening net asset value," Chairman Peter Sedgwick said in a statement.

3i Infrastructure also reported GBP90.2 million in cash at the end of June, after deducting GBP29.5 million paid for the final dividend.

Meanwhile, it is seeking shareholder approval for a reduction in the advisory fee on new investments, amongst other measures.

3i Infrastructure shares were Tuesday quoted up by 0.2% at 133.50 pence.

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Source: Alliance News

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