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LONDON - Cordiant Digital Infrastructure Ltd (CORD) reported a 7.9% increase in net asset value (NAV) per share for the year ending March 31, 2025, according to financial results released Friday.
The company achieved an NAV total return of 11.6% based on the ex-dividend opening NAV, while share price total return reached 43.1%. Since its 2021 IPO, the company has delivered an annualized NAV return of 11.6% with dividends reinvested, exceeding its initial 9% target.
The performance was primarily driven by earnings growth across key assets. The company reported a 9.3% increase in EBITDA, with significant contributions from two long-standing holdings: Emitel, which saw 13.3% EBITDA growth from new contract wins, and CRA, which achieved 10.2% growth, partly from its data center business.
Based on these results, Cordiant increased its dividend to 4.35p per share, representing a 3.6% increase from the previous year. This marks the third dividend increase since the company’s IPO and implies a 4.5% yield based on the pre-announcement share price. Dividend cover improved from 1.6x to 1.7x based on the company’s adjusted funds from operations.
Despite the positive operational performance, the company’s shares were trading at a discount of over 22% prior to the results announcement.
This article is based on information contained in a press release statement from Cordiant Digital Infrastructure Ltd.
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