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Property investor Regional REIT upped its first-quarter dividend by 7% after notching higher rent collections.
The company declared a dividend for the three months through March of 1.6p per share, up from 1.5p year-on-year.
Regional REIT said it completed a number of lease renewals during the quarter, achieving rental uplifts of 6.4% versus the prior rent level.
At 14 May, collection for first-quarter rent due had increased to 96.1% from 90.4%, as previously announced on the 21 April.
'The oompany's asset management team continues to actively engage with its highly diversified roster of tenants to ensure the maintenance of strong quarterly rent collections,' Regional REIT said.
'The rent collections underpin the uninterrupted payment of the quarterly dividend, which has been increased.'
'Alongside the rent collections, the asset management initiatives across the portfolio continue to be executed to ensure long-term capital value growth for shareholders.'
At 9:45am: (LON:RGL) Regional Reit Limited share price was 0p at 78p