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Unite increases its 2015 interim dividend by 150%

Investment Tools Ltd.
Unite increases its 2015 interim dividend by 150%

Strong financial performance

 

EPRA earnings up 45% to £29.6 million (30 June 2014: £20.4 million)

 

EPRA earnings per share up 30% to 14.2 pence (30 June 2014: 10.9 pence)

 

EPRA NAV per share up 20% to 521 pence (31 December 2014: 434 pence) equating together with dividends paid to a total return on opening EPRA NAV per share of 22.1% (30 June 2014: 6.1%)

 

On track to achieve like-for-like rental growth of 3.5% to 4.0% for the full year, up from 3.3% for 2014

 

Average portfolio yield compressed by 47 bps in the first six months to 5.8% (31 December 2014: 6.3%) and further compression expected over next 18 months

 

Interim dividend increased by 150% to 5.5 pence per share (2014 interim: 2.2 pence). Policy remains to distribute 65% of full-year recurring EPRA earnings by way of dividend each year

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