Greencoat growth paying dividends for shareholders

RENEWABLE energy firm Greencoat UK Wind yesterday said it plans to reward shareholders with an increased dividend after significant growth in its generation capacity following a number of acquisitions.

The company, which operates a portfolio of onshore wind farms including Scottish sites Braes of Doune, Carcant, Drone Hill, Kildrummy and North Rhins, said it would pay a total dividend of 6.16p for 2014 and expects to increase it by 1.6 per cent in 2015.

Tim Ingram, chairman of the firm – which recently appointed Martin McAdam, former chief executive of Edinburgh-based Aquamarine Power, to its board – said: “We are pleased to report the continued good performance of our portfolio and to have delivered the attractive dividend and real net asset value growth promised at IPO.

“We have increased our investment portfolio from six to 16 UK wind farms since listing and it is pleasing to have now acquired new wind farms from five different sellers, a testament to the benefit of the company’s independence and its ability to be selective in its acquisitions.”

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