Digital 9 Infrastructure withdraws 2023 dividend target as balance sheet pressures mount

Launches shareholder consultation

Digital 9 Infrastructure (DGI9) has withdrawn its 6p dividend target for 2023 financial year and decided not to declare a dividend for the second quarter, as the trust continues to navigate liquidity and balance sheet pressures.

In a stock exchange notice on Thursday (28 September), chair Phil Jordan said the high interest rate environment and the "critical importance" of prioritising liquidity and sustainable balance sheet management had compelled the board to make this decision.  DGI9 has been grappling with funding problems in recent months, with growing concern among shareholders over the trust's overstretched balance sheet in light of a pipeline of considerable capital expenditure in coming years and the rising cost of debt.  Options to resolve Digital 9 Infrastructure's 'material uncertainty' narrow as ...