Derwent London raise interim dividend 9.9%

DividendMax Ltd.

Derwent London raise interim dividend 9.9%

Derwent London have raised their interim dividend by 9.9% to 21.00p from 19.10p per share in 2018

Other financial highlights include:

EPRA NAV 3,852p per share from 3,776p in December 2018, up 2.0% or 3.7% from June 2018

Total return 3.3% compared to 3.1% in H1 2018

Net rental income £86.3m, up 7.1% from H1 2018

Underlying earnings 51.34p per share against 51.77p in H1 2018 and 99.08p for full year 2018

IFRS earnings 118.09p per share versus 120.22p in H1 2018 and 199.33p for full year 2018

Issued £175m convertible bonds 2025 and repurchased £150m convertible bonds 2019

Interest cover 454% and LTV ratio of 17.6%

Weighted average debt maturity increased to 8.2 years with cash and undrawn facilities of £495m

Companies mentioned