Impact Healthcare ups dividend target
Impact Healthcare REIT has increased its target total dividend by 2.83% to 6.17p per share, for the year ending 31 December 2019.
At its initial public offering in March 2017, it set an equivalent target of 6p per share. It has since paid and declared seven quarterly dividends of 1.5p per share.
The REIT said it would now increase the target dividend in line with inflation-linked rental uplifts, aligning with rent review provisions contained in the group’s leases in the prior financial year.
Impact Healthcare REIT has increased its target total dividend by 2.83% to 6.17p per share, for the year ending 31 December 2019.
At its initial public offering in March 2017, it set an equivalent target of 6p per share. It has since paid and declared seven quarterly dividends of 1.5p per share.
The REIT said it would now increase the target dividend in line with inflation-linked rental uplifts, aligning with rent review provisions contained in the group’s leases in the prior financial year.
In a trading update ahead of its full-year results in March, unaudited NAV per share increased slightly to 103.2p during the quarter to 31 December, compared with 102.3p in September.
NAV grew to £197.8m during the quarter, from an equivalent of £196.6m in the previous three months.
Unaudited EPRA NAV at 31 December was 102.9p, growing slightly from 102p on 30 September.
The value of its portfolio reached £223.8m during the period, up on an equivalent of £197.9m in the previous quarter.
The REIT attributed the value uplift to rent increases as well as the outcome of investments in capital improvements.
Rupert Barclay, chairman of Impact Healthcare REIT, said: “We remain well placed to deliver further value for the short and longer term and our new progressive dividend policy underlines our confidence in the group’s prospects.”
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