3i Infrastructure on track to lift dividend after strong start to year
3i Infrastructure PLC on Thursday said it has made a "strong start" to the new financial year with its portfolio performing "well overall".
In a trading period for the quarter ended June 30, the infrastructure investor said total income and non-income cash was £52 million for the period, in line with expectations, and that it is on track to deliver the financial 2027 dividend target of 14.30 pence per share, up 6.3% on-year.
"Our portfolio companies made a strong start to the new financial year, with most trading in line with or ahead of expectations," the firm said.
"We continue to see strong demand to lend to our portfolio companies and are actively working to raise additional debt and/or refinance existing facilities across three more of our businesses," the firm added.
The firm said it is on track to complete an around EUR300 million investment in the Lefdal Mine Datacenter campus on the west coast of Norway in the summer.
At June 30, the company had a cash balance of £428 million and no drawings on the £900 million revolving credit facility. The RCF was repaid with proceeds of EUR1.1 billion received in June from the sale of TCR.
Shares in 3i Infrastructure were down 0.4% at 374.59 pence each in London on Thursday.
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