First Property Group PLC announce final dividend of £0.25 pence per share

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First Property Group PLC announce final dividend of £0.25 pence per share

The Directors of First Property Group PLC have resolved to pay a final dividend of 0.25 pence per share (2021: nil), which together with the interim dividend of 0.25 pence per share (2021: 0.45 pence per share), equates to a dividend for the year of 0.50 pence per share.

The proposed final dividend will be paid on 29 September 2022 to shareholders on the register at 26 August 2022 and is subject to shareholder approval at the forthcoming annual general meeting on 27 September 2022.

The full year's dividend is covered 12 times.

Other financial highlights include:

Profit before tax of £7.08 million (2021: loss before tax of £5.09 million)

Value of directly owned property at market value at 31 March 2022: £42.24 million (31 March 2021: £41.57 million)

Net debt at 31 March 2022: £17.24 million (31 March 2021: £18.85 million)

Market value of shares owned by the Group in FPAM managed funds (Investments and Associates) at 31 March 2022: £30.60 million (31 March 2021: £27.47 million)

Cash reserves at 31 March 2022: £6.42 million (31 March 2021: £16.24 million)

One new fund established during the year, Fprop Fulcrum Property LP

Third party AUM at 31 March 2022: £516.5 million (31 March 2021: £527.2 million)

Total AUM at 31 March 2022: £559 million (31 March 2021: £569 million)

Weighted average unexpired fund management contract term at 31 March 2022: 3 years, 3 months (31 March 2021: 3 years, 11 months)

Companies mentioned