Investcorp Capital plc (the “Company” or “Investcorp Capital”), a provider of capital and capital financing services in the alternative investments space, announced that its board of directors will meet on February 11, 2024 to consider the payment of an interim dividend based on 8% annualized yield on net asset value of the Company, subject to the availability of distributable reserves, earnings and other relevant factors as determined by the Company.
FAB Securities has also recently initiated coverage of the Company and published analyst research with a “Buy” recommendation on Investcorp Capital. FAB’s analyst report is available at the following link [here].
Abbas Rizvi, CFO, Investcorp Capital, said: “At IPO, we committed to provide shareholders with unrivalled investment opportunities and consistent returns. We’re delighted to confirm our intention to pay, in March, the first tranche of the dividend at a 8% annualized yield on the net asset value of the firm, subject to approval by the Company’s board of directors, and welcome the opportunity to continue to reward the trust our investors have placed in us in the years to come.
“The expected dividend payments for fiscal year 2024 should result in an effective yield of north of 10% for public market investors for FY24 ending on June 30, 2024. We are pleased to see the latest analyst research report published by the FAB Securities team, which affirms the strong fundamentals of the underlying business, and we look forward to updating the market again at our next quarterly results.”
Investcorp Capital benefits from its majority owner, Investcorp Group (‘Investcorp’), sourcing attractive investment opportunities across the Company’s strategies, asset classes and geographies and strong placements of products with its global client base. This strategy has seen a flurry of deals in the past quarter, including the acquisition by Investcorp of US-based Best in Class Technology Services (“BCTS”), a leading provider of HVAC, electrical and plumbing maintenance, repair and replacement services. This acquisition follows Investcorp’s investment in Outcomes First Group (OFG), a leading UK specialist provider of education and therapeutic care; the acquisition of the infrastructure business of Corsair Capital, a US investment firm; successful acquisitions of various real assets in US; and the warehousing and issuance of new CLOs in US and Europe, also during the last quarter.
