The LondonMetric Property PLC dividend remains covered by EPRA earnings and their policy of paying a sustainable and progressive dividend remains unchanged. They have continued to declare quarterly dividends and offer shareholders a scrip alternative to cash payments.
The first quarterly payment for the current year of 2.2p per share was paid as a Property Income Distribution (PID) in October 2021 and the Company has approved a second quarterly payment of 2.2p per share in January 2022. The total dividend payable for the half year of 4.4p represents an increase of 4.8% over the previous half year.
Other financial highlights include:
Net rental income up 3.6% to £63.5m, on an IFRS basis increased by 3.7%
EPRA cost ratio down 50 bps to 13.2%
EPRA earnings up 4.5% to £44.2m, +2.5% on a per share basis
IFRS reported profit up 199% to £254.1m