Interim dividend
Your directors are pleased to declare an interim dividend of 7.15p per share, an increase of 4.8% on last year's interim dividend of 6.825p. The interim dividend, to be paid on 1 July 2016, will comprise 4.45p as a PID and 2.7p as an ordinary dividend.
We aim to maintain steady growth in dividends, reflecting the long-term trend in our income and cash earnings. The dividend is covered 1.02 times by EPRA earnings and 1.08 times by cash earnings, after adding back the non-cash accounting charge in the period for equity-settled remuneration of £1.2 million.
The Board monitors the Group's ability to pay dividends out of available resources and distributable reserves.
