Land Securities Group PLC Dividend declaration and rent collection update (6858E)
09 Luglio 2021 - 8:00AM
UK Regulatory
TIDMLAND
RNS Number : 6858E
Land Securities Group PLC
09 July 2021
9 July 2021
Land Securities Group PLC ('Landsec')
Dividend declaration and June 2021 quarter day rent collection
data
Dividend
Landsec today confirms that the first quarterly dividend for the
2021/22 financial year will be 7.0p per ordinary share, paid
entirely as a property income distribution, and will be paid on 8
October 2021 to shareholders on the register at the close of
business on 27 August 2021.
June 2021 quarter day rent collection data
We have made good progress on rent collection. As at 7 July 2021
- collection day 10 - 81% of the net rent due on 24 June had been
paid. The breakdown of the rent collection by segment is as
follows:
24 June 2021 quarter (1)(2) - Rent collection days 5 and 10
Net
Gross Day 5
amounts Monthly amounts amount
due payment due received
Day 10 Day 10 Day 5 Day 5
terms amount amount amount amount
24 June agreed 24 June received received received received Mar 21
GBPm GBPm GBPm GBPm % GBPm % %
-------------------- --------- --------- --------- ---------- ---------- ---------- ---------- ---------
Offices 60 (1) 59 56 95% 53 90% 87%
Rest of Central
London 8 (1) 7 5 71% 4 57% 29%
Regional
retail 14 (3) 11 8 73% 7 64% 38%
Urban opportunities 5 (1) 4 2 50% 2 50% 40%
Subscale
sectors 16 (2) 14 6 43% 6 43% 36%
---------- ---------- ---------
103 (8) 95 77 81% 72 76% 67%
-------------------- --------- --------- --------- ---------- ---------- ---------- ---------- ---------
1. Including our proportionate share of subsidiaries and joint ventures.
2. All amounts are shown gross of VAT. Where an amount billed
remains uncollected and is subsequently written off, the VAT
component will be recovered by the Group.
Of the GBP18m of rent outstanding, GBP6m relates to customers
who have withheld payment pending documentation of agreed
concessions.
We continue to take a proactive approach to addressing the
challenges the pandemic presents to our people, our customers and
our business. In early April 2020, we established a customer
support fund of GBP80m for occupiers who most need our help. To
date, GBP50m of rent concessions has been allocated to
customers.
Ends
About Landsec
At Landsec, we build and invest in buildings, spaces and
partnerships to create sustainable places, connect communities and
realise potential. We are one of the largest real estate companies
in Europe, with a GBP10.8 billion portfolio of retail, leisure,
workspace and residential hubs. Landsec is shaping a better future
by leading our industry on environmental and social sustainability
while delivering value for our shareholders, great experiences for
our guests and positive change for our communities.
Find out more at landsec.com
Please contact:
Press Investors
---------------------------
Jonathan Sibun (Tulchan Ed Thacker
Group)
---------------------------
+44 (0) 7779 999 683 +44 (0) 20 7024 5185
---------------------------
jsibun@tulchangroup.com edward.thacker@landsec.com
---------------------------
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END
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