8point3 declares 3.5% higher quarterly distribution, in line with forecast
Solar park in California equipped by First Solar. Author: Russ Ferriday. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
8point3 Energy Partners LP (NASDAQ:CAFD) today declared a 3.5% higher quarterly distribution of USD 0.217 (EUR 0.199) per share for the fourth quarter of 2015.
The firm is the yieldco joint venture between US solar majors First Solar Inc (NASDAQ:FSLR) and SunPower (NASDAQ:SPWR). The fourth-quarter pay-out represents an increase of 3.5% over the minimum quarterly distribution and non-prorated previous quarter distribution of USD 0.2097 per share and is in line with the guidance provided in the company's third-quarter results for approximately USD 0.22.
The distribution will be paid on January 14 to shareholders of record as of January 4. The company's fiscal year ends on November 30.
8point3 completed its initial public offering (IPO) at the end of June. For its first quarter as a public company it paid USD 0.157 per share, the prorated minimum quarterly distribution for the post-IPO period.