3i ups divi by 20%

12th May 2011 08:54

Private equity group 3i has upped its dividend by 20% after reporting a sharp rise in investments in the year to 31 March."High quality new investment has always been central to future value growth for our shareholders," said chairman Sir Adrian Montague. "It was therefore encouraging that, although we retained a measured and highly selective approach to investing, the rate of balance sheet investment, at £719m in the year to 31 March 2011, was significantly ahead of last year's low level of £386m.The full-year dividend was lifted to 3.6p a share from 3p.3i, which earlier this month announced an investment in camping equipment retailer Go Outdoors, described the environment as "generally improving but somewhat fragile.""Significant regional differences are evident and it is a little early to assess the longer term effects of the geopolitical developments in the Middle East, the natural disaster in Japan, and increased energy and other commodity prices," the company said.---RG