Gore Street Energy Storage (GSC) has restated its dividend target and expressed confidence about the robustness of its balance sheet in light of the recent revenue headwinds facing the UK’s energy storage sector.
In a stock exchange notice today (5 February), the trust reaffirmed its dividend target of 7% of NAV for the fiscal year and noted the dividend was "fully covered" in the last reported quarter to the end of September 2023. The update follows the the suspension of Q4 dividends from peers Gresham House Energy Storage and Harmony Energy Storage last week, which both cited a weak environment for revenues. Harmony Energy Income cuts Q4 dividend and weighs up asset sales to pay down debt GSC noted the turbulence in the market but reconfirmed its "healthy" balance sheet with "low debt",...
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