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Greencoat Renewables PLC reported on Thursday its net asset value declined in the third quarter, and improved its dividend.
The Dublin-based renewable energy infrastructure investor declared a dividend of 1.7025 euro cents for the third quarter to September 30 from 1.685 cents a year earlier.
The company targets total dividend of 6.81 cents, up 1.0% from 6.74 cents.
As at September 30, net asset value per share was 101.5 cents, down 8.1% from 110.4 cents at September 30, 2024, and inched down 0.5% from 101.0 cents at June 30 this year.
The group completed the disposal of a 116 megawatt portfolio of six Irish assets for total proceeds of €156 million. It used the proceeds to repay debt, resulting in a reduction in total debt to €1.21 billion.
Greencoat also said its listing on the Johannesburg Stock Exchange represented 14% total volumes in the third quarter, and indicated it will seek JSE approval to list on the main board to achieve index inclusion and expand its access to a wider investor base.
It debuted on the JSE early in June this year.
Shares in Greencoat Renewables were up 0.7% to €0.71 in London on Thursday. In Johannesburg, they were down 6.9% to R 13.32, however.
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