Greencoat UK Wind reiterates dividend target amid stronger generation

30th Jul 2026 10:17

(Sharecast News) - Greencoat UK Wind reported first-half net cash generation of £222m on Thursday, up from £163m a year earlier, as stronger wind generation and realised power prices lifted performance.

Its portfolio generated 3,003GWh of renewable electricity, 4.9% ahead of budget and up from 2,567GWh in the first half of 2025, while dividend cover improved to 1.9 times from 1.4 times.

The FTSE 250 company said full-year net cash generation was on track to come in towards the top end of its £350m to £410m guidance range.

Net asset value stood at £2.90bn, or 134.1p per share, at the end of June, while aggregate group debt fell by £56m to £2.07bn.

"The first half of 2026 has seen strong operational and financial performance," said chair Lucinda Riches.

"Generation was ahead of budget, net cash generation was robust and dividend cover was 1.9x."

Greencoat reiterated its 2026 dividend target of 10.7p per share, marking its thirteenth consecutive inflation-linked increase.

At 0958 BST, shares in Greencoat UK Wind were up 2.47% at 108.62p.

Reporting by Josh White for Sharecast.com.

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