International Public Partnerships Ltd on Thursday said it was very optimistic in its outlook despite its net asset value ticking down, as it announced a higher dividend.

The London-based infrastructure investment company said net asset value per share edged down 2.0% to 149.5 pence as at June 30 from 152.6p a year prior.

INPP declared an interim dividend of 4.18 pence per share, up 3.0% from 4.06p a year prior.

Chair Mike Gerrard said: ‘The company’s solid performance in the period is a testament to the resilience of its diversified, low-risk portfolio and fundamentals of the investment case. The company has a progressive dividend policy on which it has delivered every year since its initial public offering in 2006. Moreover, the strength of the portfolio is such that no further investments are needed to continue this policy for at least the next 20 years.’

Looking ahead, INPP said: ‘The outlook for infrastructure remains strong, and there continues to be a significant need for infrastructure investment across the geographies in which the company invests. Governments have a pressing requirement to renew and expand public infrastructure but continue to be fiscally constrained. The potential for the company to assist in the development and funding of new infrastructure should provide the company with highly attractive growth opportunities in the longer term.’

INPP shares were up 0.2% at 127.80 pence each on Thursday morning in London.

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