The Workspace Group Board is recommending a final dividend of 14.5p per share, taking the full year dividend to 21.5p (2021: 17.75p). The final dividend will be paid on 05 August 2022 to shareholders on the register at 08 July 2022. The dividend will be paid as a Property Income Distribution and fully meets the REIT distribution requirement for the year to 31 March 2022.
Other financial highlights include:
Trading profit after interest up 21% to £46.9m driven by 6.4% (£5.2m) increase in net rental income to £86.7m
Property valuation of £2,402m, an underlying uplift of 3.0% (£69m) from 31 March 2021
EPRA Net Tangible Assets (NTA) per share up 5.3% to £9.88 with total accounting return of 8.0%
Loan to value of 23% (2021: 24%)
Profit before tax of £124.0m (2021: £235.7m loss), with increases in both trading profit after interest and the property valuation