7th May 2015 07:03
LONDON (Alliance News) - Kennedy Wilson Europe Real Estate PLC on Thursday said it has hiked its quarterly dividend payout as it said the high level of activity in the real estate market continued in the three months to the end of March.
Kennedy Wilson said it will pay a quarterly interim dividend of 8 pence per share, up 14% on the previous quarter. The group's total portfolio value at the end of the quarter was GBP2.02 billion, up from GBP1.49 billion at the end of 2014, boosted by the acquisitions of the Gatsby portfolio of mixed-use assets across the UK and the Park Inn loan portfolio.
Kennedy Wilson said 67 lease transactions were completed in the quarter, with a further 46 currently in process. Its portfolio occupancy rate at the end of March was 94.8%, up from 94.5% at the end of December.
"The board remains confident about the existing portfolio's reversionary potential in terms of both value and rental growth," said Charlotte Valeur, the chair of Kennedy Wilson.
By Sam Unsted; [email protected]; @SamUAtAlliance
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