Panther Securities PLC (LSE:PNS) shares moved 9% higher on Monday as a result of a strong trading update and the declaration of a special dividend.
The property investment group expects to see a strong increase in net asset values for the year, with the fixed interest rate derivatives liability reducing significantly.
The group's loan-to-value (LTV) ratio is under 40% and its actual interest cover is approaching three times on its charged portfolio.
In recognition of Panther’s progress, the board confirmed an additional special interim dividend for the year ended 31 December 2023 of 10p per share on top of an expected 6p per share final dividend.
Panther shares were currently changing hands at 320p on Monday lunchtime with a £56mln market valuation.