Sequoia Economic Infrastructure Income Fund (SEQI) H2 2026 earnings summary

Executive summary

• Fiscal year 2026 covered April 1, 2025 to March 31, 2026, marking over 11 years of resilient performance and consistent dividend delivery.

• Largest listed infrastructure credit fund on the London Stock Exchange with a NAV of £1.4 billion and a diversified, infrastructure-backed portfolio of 50 positions.

• Maintained a strong dividend yield (9% at year-end, currently 8.4%) and robust NAV total return of 8.4%.

• Share buyback program has repurchased over 288 million shares since July 2022, enhancing NAV per share.

• Strong liquidity with ~3 million shares traded daily and low ongoing charges ratio of 1.01%.

Financial highlights

• Net assets at £1.4bn as of 31 March 2026, down from £1.5bn year-over-year.

• NAV per share increased to 93.17p from 92.55p; total NAV return of 8.4%.

• Earnings per share rose to 6.83p from 5.04p year-over-year.

• Dividend per share held at 6.875p; dividend yield at 9% for the year, now 8.4%.

• Cash dividend cover improved to 1.06x from 1.0x.

Outlook and guidance

• Board and management confident in maintaining current dividend level, supported by high interest income and predictable cash flows.

• Ongoing review of investment policy to expand eligible jurisdictions, subject to shareholder and FCA approval.

• Continued focus on thematic portfolio refresh and prudent new investments.