Octopus Renewables increases dividend despite net asset value decline
Octopus Renewables Infrastructure Trust PLC on Tuesday said it increased its dividend for the fourth consecutive year despite lower valuations weighing on its net asset value.
The London-based investment company focused on European and Australian renewable energy assets said its net asset value was £494.8 million on December 31, down 13% from £570.4 million at the end of 2024.
The NAV per share was 93.8 pence at the end of 2025, down 8.6% from 102.6p the year prior.
Octopus Renewables shares were up 0.4% to 58.03 pence each on Tuesday at midday in London.
It reported an NAV total return of negative 2.8% for 2025, following a 2.5% positive return in 2024.
The company said the result reflected lower power price and green certificate assumptions which weighed on the sector’s valuation in 2025.
The company’s portfolio, however, brought in higher revenue in 2025 reaching £138.8 million, up 5.4% from £131.7 million in 2024.
Octopus Renewables increased its dividend by 2.5% to 6.17 pence per share from 6.02 pence per share, with it being fully covered from operational cash flows. It is the fourth yearly dividend increase in a row.
It also said that it extended the maturity of its revolving credit facility to June 2028 while reducing its size from £270.8 million to £150 million after a £98.5 million repayment covered by a £100 million five-year term-loan facility.
The investment trust said the actions it has taken in 2025 are consistent with its 2030 strategy of investing to grow its NAV, scale the company up, and deliver more attractive risk-adjusted total returns.
Chair Philip Austin said that uncertainty is going to cloud the market’s direction in the short-term, but that renewable infrastructure remains a structurally sound investment.
‘The long-term structural drivers for renewable infrastructure remain compelling. Policy initiatives such as Clean Power 2030, alongside the continued focus on energy security, decarbonisation and long-term demand for clean power, are supporting the need for new renewable capacity and creating opportunities for competitively priced projects,’ he said.
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