Wind farm operator Greencoat Renewables has proposed a maiden dividend of 2.61 cent per share in relation to the period of its IPO in July to the end of December.
Greencoat Renewables said that 2017 was a busy year in Ireland's secondary wind market.
In March, the company acquired its 136.7MW seed portfolio in a single transaction from Brookfield consisting of the 100.0MW Knockacummer wind farm and the 36.7MW Killhills wind farm.
Then in December, it announced a deal for the 36.3MW Dromadda More wind farm from Impax Asset Management.
Last month it also announced the acquisition of the 9.2MW Lisdowney wind farm from a group of local developers.
In today's results statement, the company said that NAV per share decreased from 98 cent per share at IPO to 96.6 cent per share at 31 December 2017.
It said this was driven by a decline in power price forecasts as well as lowered short-term inflation forecasts.
The company said the Irish wind market remains a very attractive jurisdiction with a stable and supportive regulatory regime.
"Wind remains the dominant renewable technology and the group is in a good position to benefit as electricity production from wind becomes an increasingly important part of Ireland's generation mix," it added.
"The outlook for the company is positive, we have a high-quality operating portfolio, a capital structure aligned for growth opportunities, and a strong position in an attractive secondary market for wind assets," commented the company's chairman Ronan Murphy.
