28 September 2023
Bluefield Solar Income Fund Limited
('Bluefield Solar' or the 'Company')
Fourth Interim Dividend Announcement
Bluefield Solar (LON: BSIF), the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, is pleased to announce the Company's fourth interim dividend for the financial year which ended on 30 June 2023 (the 'Fourth Interim Dividend').
The Fourth Interim Dividend of 2.30 pence per Ordinary Share (September 2022: 2.09 pence per Ordinary Share) will be payable to Shareholders on the register as at 6 October 2023 with an associated ex-dividend date of 5 October 2023 and a payment date on or around 6 November 2023.
The Board is pleased to have declared full year dividends totalling 8.60 pence per Ordinary Share for the financial year ended 30 June 2023, compared to a full year dividend of 8.20 pence per Ordinary Share for the financial year ended 30 June 2022. The dividend for the financial year ended 30 June 2023 is more than 2x covered.
Furthermore, the Board has set a target dividend for the 2023/24 financial year of not less than 8.80 pence per Ordinary Share. This is expected to be covered by earnings and to be post debt amortisation.
John Scott, Chair of Bluefield Solar commented: "I am pleased that, following a year of excellent performance, Bluefield Solar has been able to increase its dividend for the 2022/23 financial year to 8.60 pence per share ('pps'), which compares favourably with our original target distribution of 8.40pps. This represents an increase of 4.9% over the prior year's dividend and, based on a share price of 118.2pps on 26 September 2023, offers a dividend yield of 7.3%."
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| For further information:
Bluefield Partners LLP (Company Investment Adviser) |
Tel: +44 (0) 20 7078 0020 |
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| Numis Securities Limited (Company Broker) | Tel: +44 (0) 20 7260 1000 |
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| Ocorian | Tel: +44 (0) 1481 742 742 |
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For further information:
About Bluefield Solar
Bluefield Solar is a London listed income fund that invests primarily in solar assets. Not less than 75% of the Company's gross assets will be invested into UK solar assets. The Company can also invest up to 25% of its gross assets into other technologies, such as wind and storage. Bluefield Solar owns and operates a 812MWp UK portfolio, comprised of 754MWp of solar and 58MWp of onshore wind.
Further information can be viewed at www.bluefieldsif.com
About Bluefield Partners
Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure. It has a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe. The team has been involved in over £6.5 billion renewable funds and/or transactions in both the UK and Europe, including over £1 billion in the UK since December 2011.
Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 100 UK based solar PV assets that are agriculturally, commercially or industrially situated. Based in its London office, it is supported by a dedicated and experienced team of investment, legal and portfolio executives. Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.
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