WindForce declares total dividend pay-out of Rs.1.76 bn for FY 21/22

Windforce, considered Sri Lanka’s largest renewable energy developer, has declared a dividend of Rs.743 million, totaling a dividend pay-out of Rs.1.76 billion for this year.

The earlier dividend of Rs.1.01 billion was declared in June 2021, just two months after its’ heavily subscribed IPO in April – the largest IPO in Sri Lanka since 2013 -, bolstered significant investor confidence at a time of lacklustre sentiments in Sri Lanka’s capital markets, according to a company media release.

WindForce has been consistent with its ROI to shareholders giving 8.1 per cent on its IPO subscription price, which is an 8.1 per cent rate of return on investment, significantly higher than prevailing rates by local banks.

“The commitment to exploring alternate energy for greener energy choices saw WindForce pioneering wind power generation in Sri Lanka and also become one of the first to enter solar power generation at a utility scale. It is also the first Sri Lankan company to install solar plants in Uganda, Pakistan and Ukraine. Having recently acquired Sky Solar (Pvt) Ltd, a rooftop solar plant and with Solar Universe (Pvt) Ltd a 10 MW solar power plant currently under construction as well as their newest 15 MW wind power plant commencing construction in February 2022, the WindForce portfolio will  hold a noteworthy 30 plants in renewable energy. This pioneering stance was aptly rewarded with the award for the Fastest Growing Renewable Energy Company in Sri Lanka at the Global Business Outlook Awards 2021,” the release said.