Ediston Property Investment Company has confirmed its dividend, bucking a trend that has seen many listed companies postpone or scrap shareholder payouts.
The company said it would pay a monthly dividend of 0.4792p per share, which equates to an annual dividend of 5.75p, but that it would consider future monthly dividends “in light of the exceptional circumstances affecting global economies and markets”.
EPIC said that it has collected almost 70% of rents due for the second quarter, and that it expects the figure to rise to 76% as tenants which pay monthly continue to do so.
“Given the current circumstances, collecting the rents due is proving more difficult than normal,” the company said. “Through the active asset management of the portfolio, the investment manager has developed good relationships with its tenants. It will be seeking to collect the balance of the rent due when possible, but in a way that is mindful of the immediate cashflow difficulties that some of the tenants are currently experiencing.”
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