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ISIN: GB00B0LCW208
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Edison Investment Research Limited · ISIN: GB00B0LCW208 · EQS - Company News (7 News)
Country: Great Britain · Primary market: United Kingdom · EQS NID: 1893787
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02 May 2024 09:02AM

Unlocking value to drive DPS growth

Edison Investment Research Limited
Edison issues flash on Picton Property Income (PCTN): Unlocking value to drive DPS growth

02-May-2024 / 08:02 GMT/BST
The issuer is solely responsible for the content of this announcement.

 

London, UK, 2 Mai 2024

 

Edison issues flash on Picton Property Income (PCTN): Unlocking value to drive DPS growth

Ahead of FY24 results to be published on 23 May, Picton Property Income has declared a Q424 DPS of 0.925p, a 5.7% increase on the previous quarter. The company intends to maintain fully covered dividends at the new level, an annualised run rate of 3.7p, well above the pre-pandemic DPS and the 3.5p paid in respect of FY24. The uplift reflects a continuing robust occupier market, supporting rental growth, as well as asset management activity, most notably the recent sale of Angel Gate. The sale was part of Picton’s strategy to accelerate the unlocking of value in its portfolio through the selective repurposing of office assets and accretively recycle the capital. Further repurposing asset management initiatives are being progressed.

We have not changed our forecasts for the Angel Gate sale and will review these when FY24 results are published later this month. The new DPS target is reflected in the FY25e DPS shown in the table above.  

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: As a content-led investor-relations business, Edison helps companies stand out and meet the right shareholders. Edison’s integrated investor relations solution combines expert analyst content, digital targeting and active investor engagement. This drives liquidity and valuations by building bigger, better informed and more engaged investor audiences globally.

Edison has a proven history of increasing liquidity and valuations for its clients. Edison’s content can be viewed by all investors, anywhere in the world.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Martyn King + 44 (0)20 3077 5700 financials@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

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The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service

1893787  02-May-2024 

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