NIDF Announces N5.43/Unit Profit Distribution to Investors for Q1
Nigeria Infrastructure Debt Fund (NIDF) has announced first quarter of 2025 profit distrubition of N5.43 per unit to unitholders, according to a regulatory filing, revealed plan to raise additional capital.
The fund said it obtained approval from the Securities and Exchange Commission and commenced its capital raise for Series 11. NIDF is seeking N40.08 billion in the current capital raise, saying it had a diversified portfolio of 28 investments.
In the equities market, the share price of the Fund was flattish at N111.7 in the last seven trading session. The market priced its over 1.055 billion for N117.901 billion, according to its trading data in the local bourse.
The Fund disclosed that the infrastructure loan portfolio had a weighted average annualised yield of 22.31%, a weighted average tenor at disbursement of 9.22 years, and a weighted average remaining life of 7.11 years.
NIDF said it has continued to outperform its benchmark: the 10-year FGN bond. The loans are typically priced at 300-500 bps over the benchmark on a floating rate basis. The Fund announced a quarterly distribution – for the first quarter ending 31st March 2025 – of N5.43 per unit on 4th April 2025 with a qualification date of 22nd April 2025.
It said this distribution will be paid to eligible unitholders on 30th April 2025 and is fully funded from the cash inflows generated by the fund during the quarter. “Going forward, it is the intention of the Fund Manager to continue paying quarterly distributions to unitholders, in line with the actual performance of the Fund and the provisions of the constitutional documents.”
The first listed infrastructure debt fund in Nigeria registered with and regulated by the Securities and Exchange Commission is a closed-ended investment trust that operates in the form of a company.
NIDF offers the most attractive yield on the NGX and is renowned for paying quarterly distributions, it said in a regulatory filing. NIDF said its objective is to provide investors with regular, sustained, long-term distributions and to preserve capital over the long term by generating exposure to Naira-denominated infrastructure debt in Nigeria, which generates regular and predictable long-term cash flows.
