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Prices & Quotes - UK Markets - Impax Environmental Markets (IEM)

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:
Up 449.00p
Change Today:
2.00p
Market Cap:
1,246.63m
Sector:
Equity Investment Instruments

Impax NAV rises in 2020 after second-half rebound

By Sean Farrell

Date: Wednesday 07 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Impax Environmental Markets' value per share rose in 2020 as increased interest in environmental markets in the second half reversed an earlier slump in share prices.
The environmental investment trust's net asset value (NAV) per share rose to 411.2p from 321.8p in the year to the end of December as its share price increased to 422.5p from 333p.

Total dividends for the year fell 23% to 2.3p a share, reflecting dividend cuts at several of its investments. The company paid no final dividend.

Chairman John Scott said: "After a first half marked by extreme volatility, in which IEM lagged its global equity benchmark, the subsequent six months saw a remarkable recovery in equity markets and a period of striking outperformance by the company, reflecting a further strengthening of the investment hypothesis underpinning environmental markets."

The FTSE 250 company said its performance reflected strong fundamentals of companies it invests in and the improving global outlook for growth in environmental markets. Its NAV total return of 31% was 18.3% better than the MSCI ACWI but lagged the FTSE ET100 index by 59.3%. About two-thirds of this underperformance was caused by the company not investing in Tesla and other electric car companies.

Impax said Joe Biden's decision to take the US back into the Paris Agreement and his plans for a green economy had underlined the importance of environmental action.

"IEM's outperformance [against the MSCI ACWI] is a result of the strengthening outlook for environmental markets post-Covid, and especially for the renewable energy and energy efficiency subsectors which are particularly set to benefit from the accelerated drive towards 'net‑zero' economies," the company said.

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IEM Market Data

Currency UK Pounds
Price 449.00p
Change Today 2.00p
52 Week High 497.00p
52 Week Low 271.50p
Volume 553,921
Shares Issued 277.65m
Market Cap 1,246.63m
Beta 0.01

Performance Indicators

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IEM Dividends

  Latest Previous
  2nd Interim Interim
Ex-Div 18-Feb-21 06-Aug-20
Paid 12-Mar-21 28-Aug-20
Amount 1.00p 1.30p

Trades for 14-May-2021

Time Volume / Share Price
16:35 24,998 @ 449.00p
16:29 82 @ 449.00p
16:29 9 @ 449.00p
16:29 26 @ 449.00p
16:29 43 @ 449.00p

IEM Key Personnel

Chair John Scott