Royalties collection outfit International PPL said on Thursday that full-year profits more than doubled in 2021 amid a further “strong operational performance” from its portfolio.
For the twelve months ended 31 December, International PPL’s net asset value per share increased to 148.2p from 147.1p a year earlier, helping the firm report an annual profit of £129.2m, up from £60.8m in 2020.
The FTSE 250-listed company also hiked its dividend to 7.55p per share, whilst maintaining fully cash covered dividends, and expects to continue to deliver further growth in its dividend moving forward, reaffirming its dividend target for 2022 of 7.74p per share and providing new guidance of 7.93p per share for 2023.
International PPL stated its “overall robust performance” and ability to deliver a growing dividend have been consistent features throughout its history.
Chairman Mike Gerrard said: “Whilst some individual asset performance was inevitably impacted by the pandemic over the course of the year, overall the portfolio experienced limited disruption which illustrates its resilience to such shocks.
“Looking forward, the company remains confident that its business model and investment objectives will continue to offer a significant degree of protection for our investors. Moreover, the board continues to see a positive outlook for new investment opportunities.”
