It has been announced by St. Modwen's, who have not cut their Dividend payments in the fiscal year 2020, that Dividends paid during the year were in respect of the interim dividend for 2020. The proposed final dividend of 3.9 pence per share is subject to approval at the Annual General Meeting and has not been included as a liability in these financial statements.
In light of the unprecedented circumstances related to Covid-19, the directors determined that it was not appropriate to pay the proposed final dividend for 2019 of 5.1 pence per share (amounting to £11.3m).
Other financial highlights include:
NAV per share down 11.7% to 427.7 pence (2019: 484.2 pence), after 1.1% growth in second half of year.
Total accounting return of (11.4)% (2019: 4.6%), driven by reduction in NAV during first half of year.
Adjusted EPRA EPS of 9.9 pence (2019: 17.4 pence), due to temporary Covid-19 disruption of income.
Loss for the year of £120.8m (2019: £49.5m profit), following profit of £13.7m in second half of year.
See-through LTV stable at 20.2% (2019: 19.6%), reflecting non-core disposals and tight cost control.