The Helical Plc Board will be recommending to Shareholders a final dividend of 8.70p per share, an increase of 5.5% on last year. If approved by Shareholders at the 2023 AGM, the total dividend for the year will be 11.75p, up 5.4% on 2022.
This final dividend, if approved, will be paid out of distributable reserves generated from the Group's activities. Following its conversion to a UK REIT, dividends payable by Helical will comprise a Property Income Distribution ("PID") from the operations that fall under the REIT regime, and a dividend from those operations that fall outside the REIT regime. The PID, for the year to 31 March 2023, will be 5.70p, with the balance of the final dividend of 3.00p representing an additional ordinary dividend.
Other financial highlights include:
IFRS loss of £64.5m (2022: profit of £88.9m).
See-through Total Property Return of -£51.4m (2022: £89.5m):
- Group's share of net rental income increased 7.2% to £33.5m (2022: £31.2m).
- Net loss on sale and revaluation of investment properties of £88.1m (2022: gain of £51.7m).
- Development profits of £3.2m (2022: £6.6m).
Total Property Return, as measured by MSCI, of -5.6%, compared to the MSCI Central London Offices Total Return Index of -8.6%.
IFRS basic loss per share of 52.6p (2022: earnings of 72.8p).
EPRA earnings per share of 9.4p (2022: 5.2p).
