The Derwent London dividend remains well covered by EPRA earnings and their policy of a sustainable and progressive dividend is unchanged. With these improved results, they will be raising the interim dividend payable for 2021 by 4.5% to 23.0p per share, all of which will be paid as a Property Income Distribution on 15 October 2021 to shareholders on the register as at 10 September 2021.
Other fiancial. highlights include:
Total return of 2.7%, -0.1% in H1 2020, -1.8% in FY 2020
EPRA NTA 3,864p per share, up 1.4% from 3,812p at 31 December 2020
Net rental income of £90.1m, up from £84.4m in H1 2020
EPRA earnings of £60.6m or 54.0p per share, up 10.5% from 48.9p in H1 2020
Net debt of £999.7m (£1,049.1m at 31 December 2020)
Loan-to-value ratio 17.3% (18.4% at 31 December 2020)
Undrawn facilities and cash of £527m (£476m at 31 December 2020)
