The CLS Board has announced to propose a final dividend of 5.05 pence per share resulting in a total dividend for the year of 7.4 pence per share. The 2019 dividend is an increase of 7.2% from last year which compares to the 2019 increase in EPRA NAV of 6.3%. The dividend is 1.6 times covered by EPRA earnings
EPRA NAV up 6.3%, primarily through portfolio valuation gains of £57.4 million (2018: £62.8 million) and the profit on disposal of their shareholding in Catena of £38.7 million after foreign exchange movements (2018: £22.2 million fair value gain)
Profit before tax up 9.7% due to portfolio valuation gains, the profit on the disposals of Catena and properties in Germany and France, as well as an increase in net rental income from acquisitions
Basic EPS up 9.1% from the above valuation increases and operational performance increases. EPRA EPS was down 8.4%, as profitability increases from net rental income were offset by unfavourable foreign exchange movements and lower interest income
