Workspace Group PLC are proposing an interim dividend in respect of the financial year ending 31 March 2022 of 7 pence per ordinary share which will absorb an estimated £12.7m of revenue reserves and cash. The dividend will be paid on 2 February 2022 to shareholders who are on the register of members on 7 January 2022. The dividend will be paid as a REIT Property Income Distribution (PID) net of withholding tax where appropriate.
Other financial highlights include:
Trading profit after interest up 42.5% to £21.8m (30 September 2020: £15.3m) driven by 12.3% (£4.5m) increase in net rental income
Property valuation of £2,271m, a small underlying decrease of 0.7% (£15m) from 31 March 2021
Profit before tax of £3.4m (30 September 2020: £110.4m loss)
EPRA net tangible assets per share down 1.1% to £9.28 from 31 March 2021
Loan to value of 23% (31 March 2021: 24%) with £318m of available cash and undrawn facilities