Second Interim Dividend

RNS Number : 9785H

Great Portland Estates PLC

03 March 2010

 



3 March 2010                                                                                    

Second Interim Dividend

The Board of Great Portland Estates plc announces a second interim dividend of 5 pence per share to be paid on 1 April 2010 to shareholders who are on the register on 12 March 2010.  This brings the total amount of dividend for the year to 31 March 2010 to 8 pence per share or a total payout for the year of £25.0 million, up from £21.7 million for the year to 31 March 2009.

At the time of the rights issue in May 2009 we stated that the total payout for the year to March 2010 would be at least £21.7 million with the potential for an enhanced payment depending upon the timing of, and returns generated from, the deployment of the proceeds of the rights issue.  Since then, we have committed 97% of the capital raised in new acquisitions, some of which provide attractive income yields, whilst the remainder are expected to produce good profits over the next few years. 

Of the second interim dividend, 2 pence per share will be a REIT property income distribution.

Contacts:

Great Portland Estates

Toby Courtauld                    Chief Executive                                                      020 7647 3042

Timon Drakesmith                Finance Director                                                     020 7647 3034

Finsbury

James Murgatroyd                                                                                             020 7251 3801

Gordon Simpson                                                                                                 020 7251 3801

GREAT PORTLAND ESTATES plc is a central London investment and development company and a constituent of the FTSE 250 index.  It aims to deliver superior returns to shareholders through active management, the application of development skills to create value and the maximising of equity returns through efficient capital structuring and flexible financing. GPE converted into a UK Real Estate Investment Trust (REIT) on 1 January 2007.

At 31 December 2009 GPE's portfolio, including its share of joint ventures, was valued at £1,198 million.

 

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