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Sept. 30, 2020, 3:01 a.m. EDT

3i Infrastructure dividend on track after results

By Joe Hoppe

3i Infrastructure PLC said Wednesday that total portfolio income and non-income cash amounted to 47 million pounds ($60.4 million) in the period from April 1 to Sept. 29, and it was on track to deliver on its fiscal 2021 dividend target.

The infrastructure investment company said it continues to deliver a good level of income, with its portfolio performing slightly ahead of expectations, despite the pandemic. The company said most of its portfolios met or exceeded its expectations, though lower price forecasts, the pandemic and the slow recovery in air travel will affect some valuations at the year's end.

Cash at Sept. 29 was GBP361 million, with a fully undrawn revolving credit facility of GBP300 million and a further GBP205 million of deferred proceeds due from the sale of Wireless Infrastructure Group, the company said. It said half of the proceeds are due to be paid in December, with the remainder in December 2021.

The company said it is on track to deliver its dividend target of 9.8 pence a share for the year ending March 31, a year-over-year increase of 6.5%.

Write to Joe Hoppe at joseph.hoppe@wsj.com

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