Source: Sharecast
International Public Partnerships said its structure provided significant inflation protection, with a sustained 1% rise in inflation projected to lift annual portfolio returns by around 0.8% and add roughly 12p to net asset value per share. INPP expects its progressive dividend policy to remain sustainable for at least the next 25 years even without further investment.
For the six months ended 30 June, INPP said NAV per share rose 1.3% to 153.4p, with total NAV returns reaching 8.2% on an annualised basis, while dividends remained fully covered at 1.3x, and the board reaffirmed targets of 8.79p for 2026 and 9.01p for 2027. INPP also said its buyback programme had been extended to September 2027, with £150m repurchased to date, adding 1.9p of NAV accretion.
INPP said upcoming commitments of around £290m into Sizewell C, BeNEX and Moray West OFTO were expected to be accretive as capital was deployed at returns above the portfolio's 9.1% discount rate. It also stated operational performance remained strong, with availability above 99% and key assets such as Tideway and Sizewell C progressing as planned.
Looking ahead, the FTSE 250-listed firm stsated INPP was well positioned to continue delivering reliable income and long‑term capital growth, supported by a near‑term investment pipeline of around £1bn and a wider longer‑term pipeline totalling £3bn.
As of 1115 BST, INPP shares were up 0.72% at 139.40p.
Reporting by Iain Gilbert at Sharecast.com
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