The Board of Octopus Renewables Infrastructure Trust plc announced an increase in the target dividend to 5.79 pence per ordinary share for the financial year from 1 January 2023 to 31 December 2023 ("FY 2023"). This increase of 10.5% over Fiscal Year 2022's dividend target is in line with the increase to the Consumer Price Index (CPI) for the 12 months to 31 December 2022, and marks the second consecutive year the Company has increased its dividend target in line with inflation. For Fiscal Year 2023, the Company has elected to increase the target in line with CPI, rather than the lower CPIH.

The Fiscal Year 2023 dividend target is expected to be fully covered by cashflows generated from the Company's operating portfolios.