Net Asset Value and Dividend Declaration

RNS Number : 8751O

Jlen Environmental Assets Grp

12 February 2021

 

12 February 2021

JLEN ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Net Asset Value and Dividend announcement

JLEN, the listed environmental infrastructure fund, announces its unaudited Net Asset Value ("NAV") as at 31 December 2020 and interim dividend for the quarter ended on that date.

The Company's unaudited NAV as at 31 December 2020 was £524.1 million or 95.9 pence per share, compared to £525.3 million or 96.1 pence per share as at 30 September 2020.   

Portfolio update

During the financial year to date, the renewables portfolio of the Company has continued to perform well and the anaerobic digestion ("AD"), wind and solar portfolios are all meeting or exceeding their generation budgets.  The waste and the wastewater concession-based projects continue to meet contractual targets and to deliver distributions in line with expectations.

Energy generation is 0.5% above budget for the financial year to date. This is excluding the Bio Collectors food waste processing plant which, as previously reported, is the only asset in JLEN's portfolio which has experienced any material impact as a result of the ongoing pandemic.

JLEN has continued to diversify its portfolio during the quarter to 31 December 2020, having acquired a minority stake in a portfolio of five Compressed Natural Gas refuelling stations for heavy goods vehicles, located in the UK. This is the Company's first investment into biomethane refuelling infrastructure, and it is anticipated that this investment will help to decarbonise one of the most emission-intensive parts of the transport sector.  Post the quarter end in February 2021, the Company made a second investment into food waste processing facilities with the acquisition of Codford Biogas, a gas-to-electricity plant with a capacity of 3.8MWe located in Wiltshire, UK.

Dividend

The Company announces a quarterly interim dividend of 1.69 pence per share for the quarter ended 31 December 2020, in line with the dividend target of 6.76p per share for the year to 31 March 2021¹, as set out in the 2020 Annual Report. The Company reiterates its expectation of meeting that target.

Dividend Timetable

Ex-dividend date 4 March 2021

Record date 5 March 2021

Payment date 26 March 2021

Capital Markets Event

The Company is pleased to announce that it will hold a Capital Markets Event on Wednesday 17 March 2021.  More details and a registration link for the event will be circulated in due course.

For further details contact:

Foresight Group    [phone]

Chris Tanner

Chris Holmes

Winterflood Investment Trusts                                                     [phone]

Neil Langford

Chris Mills

SEC Newgate      [phone]

Elisabeth Cowell

Praxis Fund Services                                                                        [phone]

Matt Falla

About JLEN

JLEN's investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks. 

Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency. 

JLEN's aim is to provide investors with a sustainable, progressive dividend per share, paid quarterly and to preserve the capital value of the portfolio over the long term on a real basis. The target dividend for the year to 31 March 2021 is 6.76 pence per share¹.

Further details of the Company can be found on its website www.jlen.com

LEI: 213800JWJN54TFBMBI68

(1) These are targets only and not profit forecasts.  There can be no assurance that these targets will be met or that the Company will make any distributions at all.)

 

END

 

 

NAVSFAESFEFSEEE