The Board of the Bluefield Solar Income Fund Limited has announced a third interim dividend of 1.5 pence per Ordinary Share in respect of the financial year ending 30 June, 2015. This will be payable to shareholders on the register as at 7 August, 2015, with an associated ex-dividend date of 6 August, 2015. ....
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This takes the dividends declared so far in respect of that financial year to 5.75 pence per Ordinary Share, as compared with total dividends of 4 pence per Ordinary Share paid in respect of the financial year to June 2014.
The Company intends to declare a further dividend in September, 2015, in respect of the financial year ending 30 June, 2015 with a view to delivering a total dividend of 7 pence per Ordinary Share for this financial period. It is the Board's intention, thereafter, to grow the dividend in line with RPI.
The Company is also pleased to announce that it has entered into binding contracts to acquire two UK-based sub-5MWp (Megawatt Peak) solar photovoltaic ("PV") assets. The two assets are a 4.79 MWp plant in Cornwall and a 4.98MWp plant in Norfolk. They are being acquired for a total consideration of £11.22 million, including transaction costs and working capital. Each project is eligible to qualify under either the Renewable Obligation Certificate or Feed-in-Tariff ("FIT") regimes and will not be impacted by the recently announced consultations on changes to financial support for solar PV and changes to FIT accreditation from the Department of Energy and Climate Change.
John Rennocks, Chairman of the Company, said, "The Board is happy to announce a further interim dividend and is pleased with the continued excellent performance of the portfolio. These two new acquisitions will build on the Company's sector leading portfolio."
The acquisitions are the thirtieth and thirty-first made by the Company and will be funded through the Royal Bank of Scotland revolving credit facility.