Octopus Renewables Infrastructure Trust Announces Interim Dividend, Raising Target for Full Year
stock market
Octopus Renewables Infrastructure Trust (ORIT), a UK-based investment trust that invests in renewable energy infrastructure, has declared an interim dividend of 1.45 pence per ordinary share for the period from 1 July 2023 to 30 September 2023. The dividend will be payable on 1 December 2023 to shareholders on the register at 17 November 2023.
The dividend amount is in line with the Company’s dividend target for the financial year from 1 January 2023 to 31 December 2023 of 5.79 pence per ordinary share. ORIT has a progressive dividend policy and the target dividend for FY 2023 represents an increase over FY 2022 of 10.5% in line with December 2022 CPI.
The dividend declaration is a positive sign for ORIT investors, as it demonstrates the Company’s ability to generate sustainable cash flow from its portfolio of renewable energy assets. ORIT’s portfolio includes a diverse range of assets, including onshore and offshore wind farms, solar farms, and biomass plants. The Company is also well-positioned to benefit from the ongoing growth of the renewable energy sector, as governments around the world transition to clean energy sources.
For US investors, ORIT can be a good way to gain exposure to the growing UK renewable energy sector. The Company’s shares are traded on the London Stock Exchange under the ticker symbol ORIT.
Here are some additional things to consider for US investors:
- ORIT is a UK-based company, so US investors will need to purchase its shares through a broker that offers international trading.
- ORIT’s dividends are paid in British pounds (GBP), so US investors will need to convert their GBP dividends to US dollars (USD) before they can be deposited into their US bank accounts.
- ORIT is subject to UK tax laws, so US investors may be liable for UK taxes on their dividends and capital gains.
Overall, ORIT is a well-managed investment trust with a diversified portfolio of renewable energy assets. The Company’s dividend declaration is a positive sign for investors, and its shares can be a good way for US investors to gain exposure to the growing UK renewable energy sector.
