The Nigerian Exchange Limited (NGX) has officially listed a total of 1.079 billion units of the Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) on its platform.
According to the NGX’s weekly report, obtained by NewsNGR, an additional 901,761 units of the NIDF were listed on the Exchange on Monday, September 2, 2024.
These additional units were issued as part of the NIDF’s Scrip Dividend, covering the period from January 2023 to April 2024.
Furthermore, on Friday, September 6, 2024, an additional 177,401 units of the NIDF were listed on the NGX. This brings the total number of units listed to 1,079,162.
The newly listed units were issued under the NIDF’s Q2 2024 Scrip Dividend, increasing the total number of units in the Fund from 960,946,520 to 961,123,921.
The Nigeria Infrastructure Debt Fund (NIDF), managed by Chapel Hill Denham, distributed N8.17bn to its unitholders for the first half of 2023, according to a recent corporate notice from the firm.
For the first two quarters of 2024, NIDF will distribute N4.23 per unit for Q1 and N4.27 per unit for Q2, across the fund’s 960.947m units.
A total of N4.07bn was paid out for Q1 2024, while N4.10bn is scheduled for distribution for Q2 2024, with eligible unitholders set to receive payments on July 25, 2024. This distribution is fully backed by the fund’s cash inflows generated during the quarter.
In the first half of 2024, the NIDF achieved total income of N9.49bn, an 18 per cent increase compared to the N8.06bn earned in H1 2023.
A key driver of this growth was the interest income from infrastructure loans, which reached N7.97bn in H1 2024—representing a 40.5 per cent rise from N5.67bn in H1 2023.
The fund’s operating profit for H1 2024 stood at N8.37bn, reflecting a 16 per cent increase from N7.23bn in H1 2023.
Notably, NIDF did not record any tax liabilities during the period, meaning the entire operating profit was realized as net income.
As of H1 2024, NIDF’s total assets reached N108.6bn, a modest 0.78 per cent growth compared to N107.8bn in H1 2023.
The fund’s net asset value (NAV) rose slightly to N103.5bn, a 0.18 per cent improvement from N103.3bn recorded in the same period last year.