Update 12/03/2019 Press Release
Director's Recommended Share Price
The directors of Thrive Renewables are proud of our diverse shareholder community, which reflects our mission to provide people with a rewarding connection to renewable energy. This gives us a particular responsibility to provide all our shareholders with an indication of the value of the company – the Directors’ Recommended Share Price (DRSP). The DRSP represents today’s value of projected future dividends from our portfolio of operational assets and investments.
We evaluate the DRSP when material events occur. On 15 February, two wind farms were sold, providing evidence of an increase in the value of our operational assets, leading to an increase in the DRSP 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 to approve the payment of a 40p per share interim dividend, the revised DRSP 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. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June. Invitations and information on proposed annual dividends will be sent to shareholders in May.