The Land Securities Board has declared a second interim dividend of 9.0p per ordinary share to be payable wholly as a PID (2021: 8.5p) on 3 January 2023 to shareholders registered at the close of business on 24 November 2022.
Other financial highlights include:
EPRA EPS up 9.5% to 26.6p, supported by strong leasing and 8.3% LFL rental income growth
Total accounting return of -2.9%, reflecting softening of London yields due to rising interest rates
EPRA NTA per share down 5.0% to 1,010p, driven by a -2.9% movement in portfolio value
Group LTV down to 31.1% (Mar-22: 34.4%) following £1bn of mature London office disposals
Loss before tax of £192m (2021: £275m profit), with growth in earnings offset by market yield shift
Weighted average debt maturity up to 9.8 years (Mar-22: 9.1 years), providing solid financial base