BBGI Global Infrastructure S.A. shares climbed 0.5% to 162.4p in early morning trading on Wednesday, following an investment basis NAV rise of 6.7% year-on-year to £1 billion in HY1 2022.
The firm mentioned its equity cash flows were positively linked to inflation, resulting in its NAV increase.
The global infrastructure investment group confirmed a 6.5% NAV per share growth to 149.8pps compared to 140.7pps the year before.
BBGI Global Infrastructure S.A. reported a 7.48pps target dividend for FY 2022, 7.63pps for FY 2023 and a 7.78pps target dividend for FY 2024.
The company announced a 2.03 times cash dividend cover against 1.31 times in FY 2021.
BBGI Global Infrastructure Group S.A. noted a Total Shareholder Return since IPO of 150.3%, representing 9.1% on a compound annual basis.
“I am pleased to report that BBGI has delivered an exceptionally strong operational performance for the first half of 2022. This performance reflects the low-risk investment strategy that the Company has followed since IPO in 2011. Our cash dividend cover of 2.03x supports the Company’s target dividend of 7.48 pps for 2022, and reaffirmed target dividend of 7.63pps for 2023 and of 7.78pps for 2024,” said BBGI Global Infrastructure S.A. non-executive chair Sarah Whitney.
“Over the period to 30 June 2022, the Company’s high quality inflation-linked cash flows led to a total increase in NAV of £47 million, representing a 4.7 per cent uplift, and highlights the portfolio’s genuine high-quality inflation-linkage. This contributed to a NAV per share increase of 6.5 per cent or 9.1 pence in the reporting period.”
“Despite this challenging macroeconomic backdrop, given the AAA and AA-rated countries in which we invest and the fundamentals of our investment proposition, we have confidence in our resilient and defensive strategy. In an uncertain world, I am reassured by our ability to continue to deliver long-term value to our stakeholders.”
