Highlights
· Robust financial performance
· EPRA NAV 967 pence, up 5.7%; valuation up 2.2% with buyback contributing 15 pence
· Underlying Profit £380 million, down 2.6% following £1.5 billion net sales of income producing assets, in the last two financial years
· Full year dividend 30.08 pence, up 3.0% with a payout ratio of 80%; final dividend of 7.52 pence
· Total accounting return of +8.9% (2016/17: +2.7%)
And later;
. Dividends
The fourth interim dividend payment for the quarter ended 31 March 2018 will be 7.52 pence to give a full year dividend of 30.08 pence, an increase of 3.0%. Payment will be made on 3 August 2018 to shareholders on the register at close of business on 29 June 2018. The final dividend will be a Property Income Distribution and no SCRIP alternative will be offered.
This results in an increase in the dividend pay-out ratio to 80% for the year (2016/17: 77%).
The Board propose to increase the dividend by 3.0% in 2018/19 to 31.0 pence per share, with a quarterly dividend of 7.75 pence per share. The Board have taken into account future profit shape, our preferred payout range and the external environment.
https://www.investegate.co.uk/british-l ... 00043485O/
