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Civitas Social Housing lifts annual dividend target as net assets rise
StockMarketWire.com
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Care-based social homes investor Civitas Social Housing lifted its annual dividend target for the next fiscal year after reporting annual performance that met its expectations.
For the year ended 31 March 2021, IFRS net asset value per share increased to 108.30 pence from 107.87 pence a year earlier, and 99% of rents due for the year had been received.
During the final quarter of the year, the company experienced normal trading conditions with rental income received as expected, Civitas said.
The company declared a fourth quarterly dividend for the period from 1 January 2021 to 31 March 2021 of 1.35p per share, taking the total payment for the year to 5.4p per a share, in line with guidance.
Looking ahead, the company said it intended to target a dividend of 5.55 pence per share for the financial year ending 31 March 2022.
Story provided by StockMarketWire.com
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