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Prices & Quotes - UK Markets - Sequoia Economic Infrastructure Income Fund Limited (SEQI)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 103.40p
Change Today:
-1.00p
Market Cap:
1,712.67m
Sector:
Equity Investment Instruments

Sequoia Economic Infrastructure makes good use of funds raised

By Josh White

Date: Thursday 28 Jun 2018

LONDON (ShareCast) - (Sharecast News) - Specialist investor in economic infrastructure debt, Sequoia Economic Infrastructure, announced its results for the year ended 31 March on Thursday, reporting annualised portfolio yield-to-maturity of 8.2% as at period end.
The FTSE 250 firm claimed a dividend yield of 6p per share, adding that it deployed 157.4m in the year, which was raised via an open offer, placing and offer for subscription in May last year.

It described its portfolio as "diversified", with 56 investments made across eight sectors, 23 sub-sectors and 10 jurisdictions.

The board said 79% of its investments were in private debt, and 64% were with floating rate linkage.

Its ongoing charges figure was 0.94%, calculated in accordance with AIC guidance, and down from 1.05% for the year ended 31 March 2017.

On the financial front, as at 31 March total net assets stood at 758,170,202, with the net asset value per ordinary share being 101.32p.

The company's ordinary share price at year-end was 106.00p, making for an ordinary share premium to net asset value of 4.6%.

Since year-end, the company had conducted an oversubscribed placing in May, which raised net proceeds of around 74.8m.

"The board is pleased to report another good year for SEQI," said chairman Robert Jennings.

"This is reflected in a portfolio yield of over 8%, we have maintained our dividend at 6p per share, and we successfully raised 157.4m in May 2017 and a further 74.8m in May 2018."

Jennings said the company was "delighted" both with the rate at which it was allocating its capital, and the pipeline of opportunities it had identified.

"Looking forward, the opportunity for SEQI in economic infrastructure debt is exciting.

"The asset class remains under-invested and continues to offer attractive risk-adjusted returns.

"The board has conviction in the long-term direction of SEQI and believes that shareholders will continue to benefit from the resilience afforded by an attractive pipeline of infrastructure projects."

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SEQI Market Data

Currency UK Pounds
Price 103.40p
Change Today -1.00p
52 Week High 118.26p
52 Week Low 76.20p
Volume 1,081,652
Shares Issued 1,656.35m
Market Cap 1,712.67m

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SEQI Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 22-Oct-20 23-Jul-20
Paid 27-Nov-20 28-Aug-20
Amount 1.56p 1.56p

Trades for 29-Oct-2020

Time Volume / Share Price
16:35 12,121 @ 103.40p
16:35 2,702 @ 103.40p
16:35 168,693 @ 103.40p
16:29 1,500 @ 103.00p
16:29 6,512 @ 103.00p

SEQI Key Personnel

Chair Robert Jennings