Land Securities will be paying a second quarterly dividend of 11.6p per share on 3 January 2020 to shareholders registered at the close of business on 29 November 2019. This will be paid wholly as a Property Income Distribution. Taken together with the first quarterly dividend of 11.6p per share, paid wholly as a Property Income Distribution on 4 October 2019, their first half dividend will be 23.2p per share (six months ended 30 September 2018: 22.6p per share), representing an increase of 2.7% and a total payment of £172m (six months ended 30 September 2018: £167m).
Other financial highlights include:
¾ Revenue profit up 0.4% to £225m
¾ Loss before tax for the period of £147m (2018: profit of £42m)
¾ Adjusted diluted earnings per share up 0.3% to 30.4p
¾ First half dividend up 2.7% to 23.2p per share
¾ Combined Portfolio valued at £13.4bn, with a valuation deficit of £368m or 2.8%
¾ EPRA net assets per share down 3.2% to 1,296p
¾ Ungeared total property return of -0.5%
¾ Total business return of -1.5%
