Land Securities increases its 2017 interim dividend by 9.8%

DividendMax Ltd.

Land Securities increases its 2017 interim dividend by 9.8%


£15.0m of investment lettings

£6.9m of development lettings

Acquisitions, development and refurbishment expenditure(1) of £194.0m

Disposals of £90.9m

Supported a further 114 people from disadvantaged backgrounds into jobs through our Community Employment Programme


Ungeared total property return of 0.5% (IPD Quarterly Universe 0.2%)

Total business return of -0.5%

Combined Portfolio valued at £14.4bn, with a valuation deficit of 1.8%

Voids in the like-for-like portfolio: 2.9% (31 March 2016: 2.4%)


Group LTV ratio(3) at 22.6%, based on adjusted net debt(3) of £3.3bn

Weighted average maturity of debt at 9.0 years

Weighted average cost of debt at 4.7%

Cash and available facilities of £1.5bn

First half dividend of 17.9p, up 9.8%


1 & 2 New Ludgate, EC4 now fully let

20 Eastbourne Terrace, W2 now completed and 90% let

1 New Street Square, EC4 now completed and fully let

Nova, Victoria, SW1, due to complete in the new year, now 41% pre-let or in solicitors' hands

Westgate Oxford due to open in October 2017, now 64% pre-let or in solicitors' hands

1.2m sq ft future London pipeline including 21 Moorfields, EC2; Nova East, SW1; 1 Sherwood Street, W1; and our Southwark estate, SE1

Companies mentioned