The Coronation Infrastructure Fund (CIF) has set July 28, 2026, for the payment of its H1 2026 dividends, amounting to N789.78 million. This distribution represents N8.985 per unit for the half-year ended June 30, 2026, across 87.9 million shares outstanding.
The announcement was made via a corporate filing with the Nigerian Exchange (NGX) on Thursday, July 16, pursuant to Section 25 of the Fund's Programme Trust Deed. Unitholders whose names appear on the register by the close of business on July 22, 2026, will qualify for the dividend, subject to applicable withholding tax.
The register is scheduled to close on July 23, 2026, with electronic payments slated for July 28, 2026. Unitholders are advised to ensure their E-mandate Forms are completed and submitted to Coronation Registrars for direct bank account credits.
CIF's H1 2026 interim financial statement reveals a total comprehensive income of N791.5 million for the period. The Fund's primary revenue driver, interest income, reached N881.8 million.
Infrastructure loans contributed N576.8 million, accounting for about 65% of the total interest income, while income from placements added N305 million. Other income sources contributed a further N8 million.
Operating expenses were tightly controlled at N98.3 million, resulting in an operating profit margin of nearly 90%. Management fees constituted the largest cost item at N74.3 million, representing roughly 76% of total operating expenses.
Administrative and general expenses stood at N16.7 million, including N9.5 million in regulatory fees paid to the Securities and Exchange Commission (SEC).
On the balance sheet, CIF closed H1 2026 with total assets of N9.88 billion. Infrastructure loans and investment securities accounted for N6.37 billion, or about 64% of total assets.
Cash and bank balances were N3.51 billion, primarily held in fixed placements, indicating a liquid asset base. Other assets were negligible at N444,000.
Total liabilities remained low at N53.3 million, reflecting a conservative leverage profile, and net assets attributable to unitholders stood at N9.83 billion at period end. Unitholders’ contributions were N8.79 billion, with retained earnings of N2.76 billion.
The distribution balance for the period was negative N2.52 billion, following a movement of negative N800.9 million during the half year, reflecting the Fund’s ongoing payout obligations.
Coronation Infrastructure Fund, managed by Coronation Asset Management, is a closed-end debt fund designed to channel long-term capital into infrastructure-linked loans and securities within Nigeria. It was established under a N200 billion issuance programme.
Series 1 of the programme successfully raised N8.79 billion through the issuance of 87.9 million units at N100 per unit. The Fund listed 87.9 million units on the Nigerian Exchange in 2025, marking what was described as the country’s largest capital raise by a locally managed infrastructure fund.
In July 2025, CIF distributed N10.13 per unit, totaling N890.69 million, to investors for the first half of 2025. It subsequently proposed a N9.10 per unit distribution for the second half of the year, equivalent to N800.9 million.
