• Sun. May 26th, 2024

Specialist Property Fund, Life Science Reit, Announces Difficult Dividend Reduction for 2023 to Boost Financial Flexibility and Sustainable Growth

BySamantha Jones

Mar 27, 2024
Life Science Reit reduces dividend payment due to economic challenges delaying rollout

Life Science Reit (LABS) has made the decision to halve dividends for 2023, reducing the second payment of the year from 3p to 1p per share. Despite reporting good progress in its annual results for the year ending on 31 December, the £284m specialist property fund faced challenges such as economic uncertainty, occupiers delaying rental decisions, and high interest rates.

In order to ensure it was covered by earnings and could grow sustainably from this level, LABS had to make a difficult decision to rebase the dividend. By cutting dividends, the company aims to have additional financial flexibility to deliver on its strategy effectively. The reduction in dividends will allow LABS to focus on investment opportunities and growth initiatives that will drive long-term value for its shareholders.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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