Sustainable Power increases distribution to 8.5 cents We'll take that!
Closing Price (Oct 24, 2024)
$9.77
NAV (Oct 24, 2024)
$10.66
2024-10-24 18:22 ET - News Release
An anonymous director reports
SUSTAINABLE POWER & INFRASTRUCTURE SPLIT CORP. INCREASES CLASS A SHARE DISTRIBUTION
Sustainable Power & Infrastructure Split Corp.'s Class A shares have delivered a 66.6-per-cent year-to-date return and a 13.5 per cent per annum return since inception in May, 2021. As a result of this strong performance, a positive outlook for the sectors Sustainable Power & Infrastructure Split Corp. invests in and dividend growth from the fund's portfolio holdings, Brompton Funds is pleased to announce an increase to the monthly distribution rate from 6.667 cents to 8.5 cents per Class A share. The new distribution rate for the Class A shares of $1.02 per annum, or 10.5 per cent based on the Toronto Stock Exchange closing price of $9.70 on Oct. 23, 2024, represents a 27.5-per-cent increase from the previous level of 80 cents per annum.
Brompton Funds announces a distribution payable Nov. 14, 2024, to the fund's Class A shareholders of record at the close of business on Oct. 31, 2024.
The fund invests in a globally diversified and actively managed portfolio consisting primarily of dividend-paying securities of power and infrastructure companies whose assets, products and services Brompton Funds Ltd., the manager, believes are facilitating the multidecade transition toward decarbonization and environmental sustainability. The portfolio may include investments in companies operating in the areas of renewable power (wind, solar, hydroelectric), green transportation (electric vehicles, energy transportation and storage, railroads, carbon capture), energy efficiency (smart grids, smart meters, building efficiency), and communications (communication networks, 5G wireless technology), among others.
The fund's Class A shares have significantly outperformed the S&P Global Infrastructure Total Return Index and the MSCI World Total Return Index year to date, over one year, three years and since inception.
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income- and growth-focused investment solutions including exchange-traded funds (ETFs) and other Toronto Stock Exchange-(TSX)-traded investment funds.