British Land PLC announce dividend of 15.04p per share

DividendMax Ltd.

British Land PLC announce dividend of 15.04p per share

In October, British Lands announced the intention to resume paying dividends semi-annually, calculated at 80% of Underlying EPS based on the most recently completed six-month period. Applying this policy, the Board are proposing a final dividend for the year ended 31 March 2021 of 6.64p per share. Payment will be made on Friday 6 August 2021 to shareholders on the register at close of business on Friday 25 June 2021. The dividend will be a Property Income Distribution and no SCRIP alternative will be offered.

Other financial highlights include:

Underlying profit reduced 34.3% primarily reflecting an increase in provisions for rent receivables 

83% of FY21 rent collected. 99% Offices; 71% Retail 

Portfolio value down 10.8%; Offices down 3.8%, with moderate decline of 0.8% in the second half; Retail down 24.7% with the rate of decline slowing in Retail Parks; Developments broadly flat

EPRA Net Tangible Assets (NTA) reduced 16.3% to 648p

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