Land Securities increases its 2016 full year dividend by 9.9%

DividendMax Ltd.

Land Securities increases its 2016 full year dividend by 9.9%

Activity

£37.6m of investment lettings

£33.8m of development lettings

Acquisitions, development and refurbishment expenditure of £496.0m

Disposals of £1,493.1m

Supported a further 196 people from disadvantaged backgrounds into jobs through our Community Employment Programme

Performance

Ungeared total property return 11.5% (IPD Quarterly Universe 11.3%)

Total business return of 13.4%

Combined Portfolio valued at £14.5bn, with a valuation surplus of 7.0%

Disposals completed at a surplus of 9.1% to book value

Voids in the like-for-like portfolio 2.3% (31 March 2015: 2.6%)

Financials

Group LTV ratio at 22.0%, based on adjusted net debt of £3.2bn

Weighted average maturity of debt at 9.6 years

Weighted average cost of debt at 4.9%

Cash and available facilities of £1.5bn

Final dividend recommended at 10.55p, bringing the dividend for the year to 35.0p, up 9.9%

Companies mentioned