British Land PLC dividend of 10.32p per share

DividendMax Ltd.

British Land PLC dividend of 10.32p per share

In October 2020, British Land Company PLC announced their new dividend policy, setting the dividend as semi-annual and calculated at 80% of Underlying EPS based on the most recently completed six-month period. Applying this policy, the Board are proposing an interim dividend for the six-month period ended 30 September 2021 of 10.32p per share. Payment will be made on Friday 7 January 2022 to shareholders on the register at close of business on Friday 26 November 2021. The dividend will be a Property Income Distribution and no SCRIP alternative will be offered.

Other financial highlights include:

- Underlying EPS up 22.9% reflecting a significant reduction in provisions in the half

- EPRA Net Tangible Assets (NTA) up 5.1% to 681p

- 6.1% Total Accounting Return for the half

- LTV at 33.4% with 43% headroom to Group debt covenants

- £1.5bn undrawn facilities and cash with no requirement to refinance until late 2024

- Fitch affirmed senior unsecured credit rating at 'A'

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