BlackRock Energy and Resources Income Trust declares fourth quarterly interim dividend of 1.10p per ordinary share

BlackRock

BlackRock Energy and Resources Income Trust plc (LON:BERI) has announced that a fourth quarterly interim dividend in respect of the year to 30 November 2021 of 1.10p per ordinary share (an increase of 10% compared to the previous quarterly dividend) has been declared by the Directors, payable on 14 January 2022 to holders of ordinary shares on the register at the close of business on 17 December 2021 (ex-dividend date is 16 December 2021).

This gives total ordinary dividends of 4.10p per share for the year ended 30 November 2021 against a target of 4.0p per share.

For more information on BlackRock Energy and Resources Income Trust and how to access the opportunities presented by the energy and resources markets, please visit www.blackrock.com/uk/beri 

Despite challenges faced by the wider equity markets as a result of the COVID-19 crisis your Board has continued to maintain the dividend.  Indeed, the income from the investments held by your Company has remained robust and this year has recovered substantially to the extent that the minimum dividend that the Company is required to pay for the financial year to 30 November 2021 to satisfy investment trust tax regulations is expected to exceed the 4.00p per share target. In light of this, and of the fact that the Company has substantial accumulated revenue reserves, the Board is also pleased to announce that it is increasing the annual dividend target for the Company for the year to 30 November 2022 to 4.40p per share (an increase of 10% compared to the previous target). BlackRock Energy and Resources Income Trust will aim to meet this target dividend next year and beyond, primarily from a mix of dividend income from the portfolio and revenue reserves, although this may be supported by the distribution of other distributable reserves if required. This target should not be interpreted as a profit forecast. The target level represents a yield of 4.2% based on the share price as at the close of business on 30 November 2021.

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