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Civitas Social Housing first-profit rises on higher rental income
StockMarketWire.com
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Care-based social housing REIT Civitas Social Housing reported an uptick in first-half profit on higher rental income.
For the six months ended 30 September 2020, pre-tax profit rose to £17.5 million from £17.4 million year-on-year as rental income increased to £24.1 million from £22.7 million.
Its property valuation increased by 6.8% to £898.5 million, the company said.
The company raised its interim dividend by 1.13% to 2.68 pence a share, and said it would target a dividend of 5.4 pence for the year to 31 March 2021.
'The demand for care-based housing continues to grow, with Covid-19 having reinforced the benefits of safe, secure homes over long-term institutionalisation,' the company said.
Story provided by StockMarketWire.com
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