1st Dec 2021 14:50
Residential Secure Income PLC - invests in shared ownership and rental homes - Posts annual pretax profit of GBP11.2 million up sharply from GBP2.4 million the year before. Net rental income increased 17% to GBP13.2 million from GBP11.2 million. Attributes this to reaching almost full occupancy in its existing shared ownership portfolio, fully deploying its leveraged capital, and reducing voids within its retirement portfolio back to pre-Covid 19. Reports it met its dividend target of 5.0 pence, unchanged from last year and increased dividend target for financial 2022 by 3.1% to 5.16 pence with September's inflation. Says it achieved its key objective of reaching full income generation and dividend cover by the end of the year three months ahead of schedule. States its strongly positioned for further growth.
Current stock price: 102.00p, up 3.9% Wednesday
Year-to-date change: up 14%
By Abby Amoakuh; [email protected]
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