Hammerson PLC has recommended a final dividend of 8.07p per share. This brings the full year dividend to 15.63p per share, a 4.2% increase on 2023.
Other financial highlights include:
- Reported like-for-like GRI up 1.6% year-on-year; reported like-for-like NRI -0.5% reflecting ongoing extensive repositioning in the UK
- Underlying like for like GRI +3.0%, with up to 7% growth from assets benefitting from recent investments, underlying like-for-like NRI +0.2%
- Adjusted earnings of £99m, reflecting impact of disposals. Adjusted EPS 19.9p
- IFRS loss of £526m, reflecting £497m Value Retail impairment and H124 revaluation loss
- One of the strongest balance sheets in the sector, with net debt down 40% year-on-year to £799m. Resulting Net debt: EBITDA of 5.8x and LTV of 30%, reflected in credit improvements from Moody's and Fitch in the second half
- Closing portfolio value of £2.7bn, AUM £4bn. EPRA NTA per share 370p
