Digital 9 Infrastructure Plc (GB:DGI9) has released an update.
Digital 9 Infrastructure Plc reported a significant decline in Net Asset Value (NAV) for the year ended 31 December 2023, with a 28% decrease to £686.3 million, primarily due to changes in the fair value of their investment portfolio, including a major reduction attributed to foreign exchange movements and the potential earn-out of Verne Global. The total return based on NAV plummeted to -23.10%, influenced by the NAV decrease and reduced dividend payouts. The Board has also decided against declaring a Q2 2023 dividend and withdrawn the target dividend for the year, with no dividend distributions anticipated in the medium-term as the company enters a Managed Wind-Down phase, focusing on asset sales and capital returns to shareholders.
For further insights into GB:DGI9 stock, check out TipRanks’ Stock Analysis page.
