The Workspace Board is to announce that this year an interim dividend of 8.4p per share (2021: 7.0p) will be paid on 1 February 2023 to shareholders on the register at 6 January 2023. The dividend will be paid as a REIT Property Income Distribution (PID) net of withholding tax where appropriate.
Other financial highlights include:
●Trading profit after interest up 33.5% to £29.1m (30 September 2021: £21.8m) driven by 36.8% (£15.1m) increase in net rental income to £56.1m
●Profit before tax of £35.8m (30 September 2021: £3.4m) after exceptional costs of £2.9m which include the integration of McKay
●Property valuation stable at £2,863m, an underlying increase of 0.3% (£8m) from 31 March 2022
●EPRA net tangible assets per share down 1.4% from 31 March 2022 to £9.74
●Robust balance sheet with £263m of cash and undrawn facilities and LTV of 33% (31 March 2022: 23%)
●Average cost of debt of 3.5% with 71% at fixed rates (at current debt levels) and a weighted average drawn debt maturity of 4.1 years
