Digital 9 Infrastructure (DGI9) has withdrawn its 6p dividend target for 2023 financial year and decided not to declare a dividend for the second quarter, as the trust continues to navigate liquidity and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 ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
