Derwent London plc announce an 4.3% increase in the interim dividend proposed, taking it to 24.0p per share from 23.0p last year. It will be paid as a PID on 14 October 2022 to shareholders on the register as at 9 September 2022.
Other financial highlights include:
Total return of 3.0%, up from 2.7% in H1 2021
EPRA NTA 4,023p per share, up 1.6% from 3,959p at December 2021
Net rental income £93.9m, up 4.2% from £90.1m in H1 2021
EPRA earnings 53.13p per share, down 1.7% from 54.04p in H1 2021
IFRS profit before tax of £137.1m, up 13.2% from £121.1m in H1 2021
EPRA loan-to-value ratio 23.7% (December 2021: 22.3%); interest cover 419% (FY 2021: 464%)
Net debt of £1.36bn (December 2021: £1.25bn)
Undrawn facilities and cash of £452m (December 2021: £608m)
