Gore Street Energy Storage reaffirms dividend target despite sector revenue headwinds

Confidence in 'strong' balance sheet

Valeria Martinez
clock • 2 min read

Gore Street Energy Storage (GSC) has restated its dividend target and expressed confidence about the robustness of its balance sheet in light of the recent revenue headwinds facing the UK’s energy storage sector.

In a stock exchange notice today (5 February), the trust reaffirmed its dividend target of 7% of NAV for the fiscal year and noted the dividend was "fully covered" in the last reported quarter to the end of September 2023.  The update follows the the suspension of Q4 dividends from peers Gresham House Energy Storage and Harmony Energy Storage last week, which both cited a weak environment for revenues.  Harmony Energy Income cuts Q4 dividend and weighs up asset sales to pay down debt GSC noted the turbulence in the market but reconfirmed its "healthy" balance sheet with "low debt",...

To continue reading this article...

Join Investment Week for free

  • 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

Join now


Already an Investment Week