8th Feb 2024 14:13
Alternative Income REIT PLC - London-based investor in commercial property assets - Declares second quarterly dividend of 1.425 pence per share, in line with its goal of delivering 5.9p in dividends for the financial year ending June 30. The company says that this rent target remains contingent on "continued strong rent collection". As of December 31, Alternative Income's 19-property portfolio was valued at GBP103.3 million, up from GBP99.6 million on September 30. The properties' value decreased by GBP1.4 million on a like-for-like basis, and the company says that the portfolio remains "relatively insulated from market fluctuations".
Non-Executive Chair Simon Bennett says: "The board remains confident that the company is well-positioned for the future with a portfolio that continues to deliver secure index-linked income and has the potential for capital growth as the property market recovers."
Current stock price: 68.20 pence per share, down 1.6% in London on Thursday.
12-month change: down 2.9%
By Hugh Cameron, Alliance News reporter
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