Rebased dividend
GCP Infrastructure will be 10 years old in a few weeks. Since 2012, it has paid a stable 7.6p per year dividend backed largely by UK public sector cashflows and achieved modest growth in net asset value (NAV). The yield premium that GCP delivers relative to UK government debt securities has increased significantly over the past decade. GCP’s board wants to ensure that the company’s next decade is as successful as the last. That has meant reassessing the fund’s objectives and risk tolerances. The board has determined that, following an extensive review of the sustainability of the dividend, the company will target a dividend of 7.0p from 1 October 2020.
GCP Infrastructure Investments is a closed-ended investment company. Co. is focused primarily on investments in U.K. infrastructure debt. Co. invests in a partially inflation-protected portfolio of loans and assets, primarily in the renewable energy, social housing and private finance initiative sectors. Gravis Capital Management Limited is the appointed investment adviser and alternative investment fund manager to Co. The investment adviser has advised on debt structures in a variety of infrastructure sectors, including a variety of renewable energy sectors, healthcare, education, court buildings, specialized offices, registered social landlord accommodation and transport.
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