The Land Securities Group Board has recommended a final dividend for the year ended 31 March 2025 of 12.3p per ordinary share (2024: 12.1p) to be paid as a PID. This final dividend will result in a further estimated distribution of £92m (2024: £90m). Subject to shareholders' approval at the Annual General Meeting, the final dividend will be paid on 25 July 2025 to shareholders registered at the close of business on 13 June 2025.
Other financial highlights include:
-EPRA earnings up £3m to £374m, as strong 5.0% LFL net rental income growth and lower overhead costs more than offset impact from significant disposals early in year and a rise in finance costs
-EPRA EPS up 0.4% to 50.3p, in line with expectations and ahead of initial guidance
-Profit before tax up to £393m, as strong 4.2% ERV growth supported £119m or 1.1% uplift in portfolio value, resulting in 6.4% return on equity and 1.7% increase in EPRA NTA per share
-Group LTV of 38.4% and average net debt/EBITDA of 7.7x pro-forma for disposals since year-end, as long 9.6-year average debt maturity underpins resilience of capital base
-Further LFL growth and efficiency improvements, alongside portfolio rebalancing to enhance long term growth, provides c. 20% EPRA EPS growth potential by FY30, with c. 2-4% growth expected in FY26
