• Mon. Jun 24th, 2024

Life Science Reit Halves Dividends for 2023 to Focus on Growth Opportunities

BySamantha Jones

Mar 27, 2024
Life Science Reit reduces dividend payment due to economic challenges delaying rollout

Despite reporting good progress in its annual results for the year ending on 31 December, Life Science Reit (LABS) has decided to halve dividends for 2023. The £284m specialist property fund faced challenges such as economic uncertainty, occupiers delaying rental decisions, and high interest rates.

In a statement, the company explained that it had to make a difficult decision to rebase the dividend in order to ensure it was covered by earnings and could grow sustainably from this level. By cutting dividends, LABS aims to have additional financial flexibility to deliver on its strategy effectively.

The reduction in the second payment of the year from 3p to 1p per share will take effect from March 31st, 2023. This move is expected to provide the company with more resources to invest in growth opportunities and improve its financial position.

The decision to reduce dividends is not an easy one, but LABS believes it is necessary for the long-term success of the business. The company remains committed to delivering value for its shareholders and will continue to work towards achieving its strategic goals.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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