Workspace raises its dividend even though most occupants get rent discount
The flexible office space provider is preparing its spaces with safety measures ahead of occupants returning to work
Company
Workspace Group PLC
LON:WKP
Workspace Group PLC is a United Kingdom-based company that is engaged in property investment in the form of letting of business accommodation to small and medium-sized enterprises located in London and the South East of England. As of March 31, 2008, the Company had seven active subsidiaries, four of which are engaged in the Company’s core activities. LI Property Services Limited procures insurance on behalf of Workspace Group PLC. Workspace Management Limited acts as manager for all the Company’s property investment companies. Workspace Holdings Limited is an intermediate holding company.
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Workspace is also releasing final results on Tuesday, with the dividend a potential risk
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Workspace cuts rents by 50% to help tenants through coronavirus crisis
"We appreciate that for many customers this will only be the start of a very challenging time"
Workspace still open but rental payments fall by 50%
Workspace added it will wait and see how things develop before making a decision on the final dividend.
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Flexible boost for Workspace as property values increase
Profits sagged 2.5% to £99.1mln in the last six months, which the landlord said was down to it making no profit on property disposals in the recent period
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Workspace hikes dividend after mixed full-year results
The group lifted its dividend by 20% due to a "strong financial performance and positive outlook”
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The UK blue-chip share index finished up around four points at 7,218
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Hopkins, who has been at the helm since April 2012, said his decision to step aside was “purely on personal grounds” and that he intends to keep hold of his Workspace shares
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Berenberg's analysts concluded: “Capital values and rents are at all-time highs and have begun to turn, while increasing tenant expectations are putting pressure on operating margins and increasing building obsolescence”
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