6th Aug 2015 07:28
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC on Thursday increased its quarterly dividend as it reported increases in a key measure of net asset value and earnings.
The FTSE 250-listed property investor lifted its quarterly dividend to 10.0 pence from 8.0p in the previous quarter, implying an annualised yield of 3.4%.
EPRA net asset value per share increased to 1,114.5p at the end of June, compared with 1,021.8p at the same stage in 2014, and EPRA earnings per share increased to 18.9p in the first half of 2015, from 4.3p in the corresponding half last year.
"These solid financial results demonstrate significant progress across the business both operationally and in delivering both NAV and earnings growth. The team continues to secure sustainable and cash flow accretive acquisition opportunities. As part of our total shareholder return strategy of income and capital growth, we have grown the quarterly interim dividend a further 25% over the previous quarter to 10.0 pence per share," Charlotte Valeur, Chair of Kennedy Wilson Europe Real Estate, said in a statement.
Kennedy Wilson Europe Real Estate shares were up 5.3% at 1,243.00p shortly after the market open on Thursday in London.
By Samuel Agini; [email protected]; @samuelagini
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