LondonMetric - Rent collection update
Rent collection update, intention to increase dividend
and completion of disposals totalling
Rent collection update
In respect of advance rental payments due up to
On the distribution portfolio, 97% of rent has been collected or is being collected monthly, alongside 95% of rent for the long income portfolio.
Increase in first quarter dividend
In light of the strong rent collection and in line with its progressive dividend policy, the Company intends to increase its first quarterly dividend for the financial year ending
Completion of disposals
LondonMetric also announces that it has now completed on
"Our high levels of rent collection for this quarter continue to reflect both the strength and resilience of the portfolio and our deep occupier relationships. It is particularly encouraging that rent collection of 95% compares favourably with the last quarter where, at the same stage in April, the equivalent number was 85%.
"This strong performance, along with the rapid deployment of the proceeds of our equity raise, gives us the confidence to announce our intention to increase our first quarterly dividend."
For further information, please contact:
Tel: +44 (0) 20 7484 9000
Tel: +44 (0) 20 3727 1000
LondonMetric is a
This information is provided by RNS, the news service of the
Quick facts: LondonMetric Property PLC
Market Cap: £1.99 billion
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