3i, the listed private equity group, is expected to announce plans for a circa £450m dividend to shareholders on the back of stronger results on May 12. The result would be driven by favourable realisations.
Analysts are predicting a net asset value per share of 600p to 610p, up from 553p per share a year ago. The market is also awaiting a potential update on the firm’s capital management plan and reports that it plans to sell long-standing minority investments.
Most recently, 3i sold its stake in BetterCare to the Four Seasons Group in a deal valued at £116m. The firm will make a seven-fold return on its investment. 3i first invested £6m in BetterCare in 1996, at which point the company operated three elderly care homes.
Deploying 3i’s capital and industry expertise, BetterCare has since successfully expanded to 26 homes, making it one of the top 10 care home operators in the UK. “The acquisition offers great opportunity in the current climate for a strengthened Four Seasons/BetterCare group,” said Ian Downing, 3i’s investment director.