Third Interim Dividend Announcement

RNS Number : 3346N

Bluefield Solar Income Fund Limited

08 August 2017

 

8 August 2017

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

Third Interim Dividend Announcement

Bluefield Solar (LON:BSIF), a sterling income fund that invests in UK-based solar assets, is pleased to announce a third interim dividend for the financial year ending 30 June 2017 (the 'Third Interim Dividend').  Unless otherwise noted herein, the information provided in this announcement and any asset valuations underlying such information is unaudited.

The Third Interim Dividend of 1.5 pence per Ordinary Share will be payable to Shareholders on the register as at 18 August 2017 with an associated ex-dividend date of 17 August 2017 and a payment date of 8 September 2017.  This is the same as the Third Interim Dividend of 1.5 pence per Ordinary Share for the financial year ended 30 June 2016.

Upon payment of the Third Interim Dividend, the total interim dividends paid to Shareholders for the Financial Year will be 5.75 pence per Ordinary Share, which is unchanged from the total dividends in the same period for the financial year ended 30 June 2016.  A final dividend for the financial year ending 30 June 2017 will be declared in conjunction with the publication of the Company's annual report and consolidated financial statements for the financial year ending 30 June 2017 (the 'Financial Statements'), expected to be published on 18 September 2017.

Bluefield Solar and its Board of Directors continue to target dividends growing by RPI from a 7.07pence per Ordinary Share level for the financial year ending 30 June 2016, which resulted in a minimum of 7.18 pence per Ordinary Share for the financial year ending 30 June 2017, which the Company is expecting to meet or exceed, with the intention of this rising annually with RPI thereafter.

Commenting on the Third Interim Dividend, John Rennocks, Chairman of Bluefield Solar, said: "For the fourth year since our IPO we continue to deliver highly attractive income, largely non-correlated to traditional markets.  This is the very essence of Bluefield Solar.  A sterling income product delivering long-term and sustainable dividends for our Shareholders."

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For further information:

Bluefield LLP (Company Investment Adviser)	Tel: [phone]
James Armstrong / Mike Rand / Giovanni Terranova	www.bluefieldllp.com
Numis Securities Limited (Company Broker)			Tel: [phone]
Tod Davis / David Benda			www.numis.com
Heritage International Fund Managers Limited
(Company Secretary & Administrator)			Tel: [phone]
Kevin Smith			www.heritage.co.gg
Media enquiries:
Buchanan (PR Adviser)
Henry Harrison-Topham / Vicky Hayns / Henry Wilson		Tel: [phone]
[e-mail]		www.buchanan.uk.com

Notes to Editors

About Bluefield Solar

Bluefield Solar is a sterling income fund focused on acquiring and managing UK-based solar projects to generate stable renewable energy for periods of typically 25-years or longer.  The Company's primary objective is to deliver its Shareholders stable, long term sterling income via quarterly dividends, which are linked to RPI.  The majority of the Group's revenue streams are regulated and non-correlated to traditional markets.  Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 400MWp.

Bluefield Solar is working with Bluefield Services Limited, which is providing asset management services to the fund. Bluefield Services is a Bristol-based technical asset management business, offering services such as asset monitoring, operations and contract management and technical optimisation.

Further information can be viewed at www.bluefieldsif.com.

About Bluefield Partners LLP ('Bluefield')

Bluefield was established in 2009 and is an investment adviser to companies and funds investing in solar energy infrastructure. It has a proven record in the selection, acquisition and supervision of large scale energy and infrastructure assets in the UK and Europe.  The team has been involved in over £1.25 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £500 million in the UK since December 2011.

Bluefield has led the acquisitions of, and currently advises on over 70 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, Bluefield's partners are supported by a dedicated and highly experienced team of investment, legal and portfolio executives.  Bluefield was appointed Investment Adviser to the Company in June 2013.

 

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