Directors' Valuation

The Directors’ Valuation is currently £2.35 per share.

The Directors' Valuation was last updated on 16 May 2022. Details about the update are available here. 

The Directors’ Valuation is calculated using the discounted cash flows of all Thrive’s operating projects, and projects under construction, across their expected operational life. In simple terms, discounted cash flow is a method of working out the value of a company today, based on projections of how much money it’s going to make in the future. No value is attributed in the Directors' Valuation to the pipeline of potential projects or projects under exclusivity.

The Directors’ Valuation calculation is based on a detailed discounted cash flow valuation, which is considered appropriate for capital intensive infrastructure assets such as renewable energy generation and storage projects which have long term cash flows. The Directors rigorously ensure that the method of Company valuation calculation and discount factor used (which reflects the unlisted status of the shares1) is consistent from one share issue to the next.

The Board is committed to reviewing the valuation of Thrive Renewables plc following material events. Material events include changes in the portfolio (new project acquisitions for instance) and significant market developments.

We're here to answer your questions. You can get in touch with us on 0117 428 1850 or info@thriverenewables.co.uk

1 - Thrive's shares are traded in a monthly auction, but are not listed on a recognised exchange such as the London Stock Exchange or Alternative Investment Market (AIM).

Independent assessment of share valuation

In 2014, Thrive Renewables commissioned Edison to conduct an independent valuation and benchmarking of the Company to substantiate the Directors' Valuation. This will give buyers and sellers additional information on which to base their pricing decision. The summary of their report can be downloaded here. If you’d like to see the full version of Edison’s report please contact us on 0117 428 1850 or info@thriverenewables.co.uk.

In 2019, we sold two operational wind farms realising a significant gain. Established renewable energy projects have become a desirable commodity, offering long term inflation linked revenues. The sale of the two projects provides further evidence to support our valuation of the Company.

For our latest performance and impact results visit useful documents for annual and half year reports. 

Historic share prices and dividends paid

Please note that past performance is not an indicator of future performance.

Year  Share price (pence)  Dividend paid per share (pence) *
2022

235 (from May 2022)

224 (from February 2022)

TBC
2021 215 (from March 2021) 7.0
2020  223 (from April 2020) 7.0
2019 265 (until March 2019); 228 (from March 2019) 7.0
2018 260 7.0
2017 235 4.0
2016 227 (until October 2016);  235 (from October 2016) 4.0
2015 234 (until July 2015);  218 (from July 2015) 4.0

Dividends are recommended by the Board of Directors and approved by shareholders at the Company’s Annual General Meeting (AGM). The dividend paid in a given year relates to the performance of the Company in the prior financial year and is payable to the registered holder of a share at the close of business on the Record Date, which is confirmed annually in the AGM pack.

The 2020 dividend payment of 7 pence per share was approved by shareholders at the AGM on 21 June 2021 and paid in July 2021. 

Thrive is making a difference! Visit our Impact section to see how much carbon emissions our investors are saving.