Greencoat UK Wind (UKW)

Sector:

Investment Firms

Index:

FTSE 250

 126.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 151.70
  • 52 Week Low: 123.90
  • Currency: UK Pounds
  • Shares Issued: 2,258.09m
  • Volume: 2,478,786
  • Market Cap: £2,845.20m
  • Beta: 0.53

Greencoat UK Wind pleased with 'resilient' first half

By Josh White

Date: Wednesday 24 Jul 2024

LONDON (ShareCast) - (Sharecast News) - Wind farm-focussed infrastructure fund Greencoat UK Wind said in its half-year results on Wednesday that its investments generated 2,654 GWh of renewable electricity in the first half of the year.
The FTSE 250 company said net cash generation for the group and its wind farm special purpose vehicles (SPVs) totalled £165.4m.

In line with its commitment to return value to shareholders, the company declared total dividends of 5p per share for the period, and paid an additional £29m in dividends with respect to 2023.

The firm also engaged in a share buyback programme, repurchasing 32 million of its own shares at an average cost of 140p per share.

As of 30 June, the company's aggregate group debt stood at £2.33bn million, representing 39% of gross asset value (GAV).

Greencoat UK Wind announced that its unaudited net asset value as at 30 June was £3.63bn, or 159.3p per share.

It also announced a quarterly dividend of 2.5p per share for the period from 1 April to 30 June.

"We are pleased to have delivered a resilient performance, extending our sustained track record of growing our dividend at least in line with RPI since our listing," said the company's chair Lucinda Riches.

"Dividend cover was robust at 1.5x despite lower than usual wind and portfolio availability during the period and net cash generation remained strong at £165.4m.

"We are also pleased to have returned an extra £82m of capital to investors through share buybacks and additional dividends since October 2023."

Riches said the group's outlook remained encouraging.

"Portfolio returns have been adjusted over the past two years to reflect the macro environment, and are now set to deliver net returns to investors of 10% on NAV.

"We operate in a mature and growing asset class and, as the market for UK wind assets is expected to grow to threefold over the next decade, we are well placed to capitalise on our leading position, continuing to deliver superior returns and supporting the UK government's net zero targets."

At 1009 BST, shares in Greencoat UK Wind were down 0.32% at 141.65p.

Reporting by Josh White for Sharecast.com.

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UKW Market Data

Currency UK Pounds
Share Price 126.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 151.70
52 Week Low 123.90
Volume 2,478,786
Shares Issued 2,258.09m
Market Cap £2,845.20m
Beta 0.53

UKW Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.51% above the market average41.51% above the market average41.51% above the market average41.51% above the market average41.51% above the market average
84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average84.00% above the sector average
Price Trend
34.3% below the market average34.3% below the market average34.3% below the market average34.3% below the market average34.3% below the market average
70.98% below the sector average70.98% below the sector average70.98% below the sector average70.98% below the sector average70.98% below the sector average
Income
56.37% above the market average56.37% above the market average56.37% above the market average56.37% above the market average56.37% above the market average
59.00% above the sector average59.00% above the sector average59.00% above the sector average59.00% above the sector average59.00% above the sector average
Growth
15.65% below the market average15.65% below the market average15.65% below the market average15.65% below the market average15.65% below the market average
13.88% below the sector average13.88% below the sector average13.88% below the sector average13.88% below the sector average13.88% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 1
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

UKW Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 14-Nov-24 15-Aug-24
Paid 29-Nov-24 30-Aug-24
Amount 2.50p 2.50p

Trades for 06-Dec-2024

Time Volume / Share Price
16:47 11,131 @ 126.01p
16:35 359,834 @ 126.00p
16:35 5,343 @ 126.00p
16:35 2,620 @ 126.00p
16:35 6,194 @ 126.00p

UKW Key Personnel

Chair Lucinda Riches

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