Unite Group PLC are proposing a final dividend payment of 12.75p per share (2019: nil), making 12.75p for the full year (2019: 10.25p). The final dividend will be fully paid as a Property Income Distribution (PID) of 12.75p, which they expect to fully satisfy our PID requirement for the 2020 financial year.
Other financial highlights include:
- Reflecting the acquisition of Liberty Living, rent forgone for the summer term of 2019/20 and reduced occupancy as a result of Covid-19
- IFRS loss before tax of £120.1 million (2019: loss of £101.2 million), driven by a valuation loss of £178.8 million (2019: £198.1 million gain and £384.1 million impairment of goodwill and intangibles)
- EPRA NTA down 3% to 818p (31 December 2019: 847p), resulting in a total accounting return of (3.4)% for the year (2019: 11.7%)
- LTV reduced to 34% (2019: 37%) through placing proceeds with 35% target maintained