Helen Mahy, Chairwoman of NextEnergy Solar Fund Limited, commented:

“NESF has remained proactive through its capital recycling and buyback programmes over the period, both of which have made good progress.  Shareholders signalled their confidence in NESF at its recent Annual General Meeting in August with c.94% of votes cast ‘Against’ discontinuing the Company in its current form, the strongest result in the renewable investment company sector this year and demonstrating that shareholders continue to support the Company’s ongoing strategy.”

“The Company remains committed to narrowing the ordinary share discount and is focused on delivering shareholder value now and long into the future.  This includes currently offering shareholders an attractive dividend yield of approximately 11%.”

Dividend:

·     Total ordinary dividends paid since IPO of £370m or 72p per ordinary share.

·     The Company remains on track to deliver its target dividend of 8.43p per ordinary share for the financial year ending 31 March 2025.

·     Dividend cover for the six months ended 30 September 2024 was 1.5x (31 March 2024: 1.3x).

·     Forecasted target dividend cover of 1.1x – 1.3x for the financial year ending 31 March 2025.

·     As at 20 November 2024, the Company offers an attractive high dividend yield of c.11%.