Third Interim Dividend Announcement

RNS Number : 2340W

Bluefield Solar Income Fund Limited

31 July 2018

 

31 July 2018

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 the Company's third interim dividend for the financial year which ended on 30 June 2018 (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 1.80 pence per Ordinary Share will be payable to Shareholders on the register as at 10 August 2018 with an associated ex-dividend date of 9 August 2018 and a payment date of 31 August 2018.

Bluefield Solar and its Board of Directors set dividend targets which are intended to grow in line with the Retail Price Index ('RPI'), using the 2014/15 financial year dividend of 7 pence per share as a base. The dividend paid for the financial year to 30 June 2017 was 7.18 pence per Ordinary Share.  The Company's target dividend for the financial year to 30 June 2018 (as published in its First and Second Interim Dividend Announcements issued on 8 January and 19 April 2018, respectively) remains at 7.43 pence per Ordinary Share, the cash available for this distribution being after deduction of debt repayments totalling £8.5 million.

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For further information:

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

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 to 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 460MWp.

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 £1.5 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £800 million in the UK since December 2011.

Bluefield has led the acquisitions of, and currently advises on, over 80 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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