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Unite hikes dividend 28% as rental income boosts earnings
StockMarketWire.com
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Student accommodation developer Unite Group posted a 7% rise in annual profit as it collected more rental income from its UK asset portfolio.
Pre-tax profit for the year through December rose to £245.8m, as like-for-like rental income grew 3.2%.
The company declared an annual dividend of 29.0p, up 28% on-year.
EPRA earnings, an underlying measure of performance preferred by the company, grew 25% to £88.4m.
'The outlook for our market remains positive, reflecting the strength of the world-renowned UK higher education sector, increasing participation rates, the internationalisation of higher education and the shortage of housing in the UK,' chairman Phil White said.
At 8:04am: (LON:UTG) Unite Group PLC share price was -8.5p at 917p
Story provided by StockMarketWire.com
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