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Board cheers 'outstanding year' at 3i Infrastructure
3i Infrastructure announced 28.6% total return on its operating net asset value for the year ended 31 March in its final results on Friday, as well as a 10% increase in the target dividend for the 2019 financial year to 8.65p per share.
The FTSE 250 company said its total return for the year was £480m, with its net asset value per share closing at 211p.
Its full-year dividend reached 7.85p.
The board also described "strong" income progression, with total income and non-income cash of £156m, while it invested or committed £525m during the 12-month period.
A total of £425m in cash was returned to shareholders during the year, with the company reporting a closing cash balance of £285m.
"The company had an outstanding year," said chairman Richard Laing.
"The realisations of our holdings in Elenia and Anglian Water Group generated exceptional value for shareholders."
Phil White, managing partner of infrastructure at 3i Investments, said the "outstanding" return delivered through the sales of Anglian Water Group and Elenia underpinned a "very strong year" for the company.
"As well as the special dividend paid in March, the proceeds have been invested to further diversify and balance our portfolio."