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Battery storage trust dividends wilt away

Revenue pressure starts to bite
February 5, 2024
  • Dividends on two battery storage funds have fallen victim to financial pressures
  • National Grid is set to increase its use of battery storage assets

Two of the three UK-listed battery storage investment trusts have canned their dividend payouts as problems in the subsector put revenues under pressure.

Last week, Gresham House Energy Storage (GRID) cancelled a quarterly dividend, unveiled a share buyback programme and vowed to "recalibrate" its 2024 payout target on 1 February in the face of tough market conditions, with Harmony Energy Income (HEIT) also announcing that it would postpone its first payout of the year.

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