Picton Announces 5.7% Increase in Dividend

Picton Property Income Limited

01 May 2024

 

1 May 2024

PICTON PROPERTY INCOME LIMITED

('Picton', the 'Company' or the 'Group')

LEI: 213800RYE59K9CKR4497

Dividend Declaration

Picton Announces 5.7% Increase in Dividend

Picton today announces a 5.7% increase in its dividend, effective May 2024.  The interim dividend payment in respect of the financial period from 1 January 2024 to 31 March 2024, will be 0.925 pence per share (1 October 2023 to 31 December 2023: 0.875 pence per share).

Picton intends to maintain a fully covered dividend at this increased level, which follows recent portfolio activity and the subsequent repayment of the Company's floating rate debt.

The dividend timetable is set out below:

Ex-Dividend Date	9 May 2024
Record Date	10 May 2024
Pay Date	31 May 2024

The dividend of 0.925 pence per share will be designated as a property income distribution ('PID').

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE UK MARKET ABUSE REGULATION

For further information:

Picton

Kathy Thompson, Company Secretary

020 7011 9988, [e-mail]

About Picton

Established in 2005, Picton is listed on the main market of the London Stock Exchange and is a constituent of a number of EPRA indices including the FTSE EPRA Nareit Global Index.

Picton owns and actively manages a £745 million UK commercial property portfolio, invested across 49 assets and with around 400 occupiers (as at 31 December 2023).

Through an occupier focused, opportunity led approach, Picton aims to be one of the consistently best performing diversified UK REITs and has delivered upper quartile outperformance and a consistently higher income return than the MSCI Quarterly Property Index since launch. 

With a portfolio strategically positioned to capture income and capital growth, currently weighted towards the industrial sector, Picton's agile business model provides flexibility to adapt to evolving market trends over the long-term.

Picton has a responsible approach to business and is committed to being net zero carbon by 2040.

For more information please visit: www.picton.co.uk

ENDS

 

END