Director's Valuation Per Share
The directors of Thrive Renewables are proud of its diverse shareholder community, which reflects its mission to provide people with a rewarding connection to renewable energy. This gives Thrive a particular responsibility to provide all its shareholders with an indication of the value of the company – the Directors’ Valuation Per Share (DVPS). The DVPS represents today’s value of projected future dividends from Thrive's portfolio of operational assets and investments.
The directors evaluate the DVPS when material events occur. On 15 February 2019, two wind farms were sold, providing evidence of an increase in the value of our operational assets, leading to an increase in the DVPS to £2.65 per share. An interim dividend of 40p per share, representing 15% of the share price, was proposed, subject to approval by shareholders. An additional £11 million realised by the sale will be retained by the company to invest in more sustainable energy capacity for the UK.
Following a unanimous decision by shareholders at the General Meeting on 12 March 2019 to approve the payment of a 40p per share interim dividend, the revised DVPS will be £2.28. This takes account of the interim dividend payment, but also reflects positive developments including securing improved electricity prices at a number of renewable energy sites and the company’s performance in 2018.
The interim dividend payments will be made to shareholders in two equal instalments of 20p on 3 and 17 April 2019. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June 2019. Invitations and information on proposed annual dividends will be sent to shareholders in May 2019.