Unite Group announce full year dividend increase of 14% to 33.2p, driven by earnings growth

DividendMax Ltd.

Unite Group announce full year dividend increase of 14% to 33.2p, driven by earnings growth

Unite Group are proposing a final dividend payment of 22.95 pence per share (2018: 19.5 pence), making 33.2 pence for the full year (2018: 29.0 pence). The final dividend will be fully paid as a Property Income Distribution (PID) of 22.95 pence.

Subject to approval at Unite's Annual General Meeting on 7 May 2020, the dividend will be paid in either cash or new ordinary shares (a "scrip dividend alternative") on 15 May 2020 to shareholders on the register at close of business on 14 April 2020. The last date for receipt of scrip elections will be 23 April 2020.

Other financial highlights include:

Like-for-like rental growth of 3.4% and 98% occupancy (2018: 3.2% and 98%)

EPRA profit includes £4.6 million (1.6p) from partial recognition of the LSAV performance fee 

Statutory loss before tax of £101.2 million, primarily the result of the impairment of goodwill and intangibles of £384.1 million relating to the Liberty Living acquisition (2018: profit of £245.8 million)

Total accounting return of 11.7% (2018: 13.2%)

Companies mentioned