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Care home investor Target Healthcare declared a higher quarterly dividend after rounding out the year with a positive valuation performance.
The company declared a fourth interim dividend for the year through June of 1.68p per share, up 0.6% on the 2020 financial year quarterly payouts.
Its net asset value total return per share for the quarter was 2.8%, including EPRA NAV per share increasing 1.2% to 110.4p.
'We continue to grow the portfolio by adding high quality assets, including new developments, which we are confident will perform and contribute positively to stable returns over the long-term,' Target Fund Managers chief executive Kenneth MacKenzie said.
'We have several other deals progressing to completion which would see our remaining capital being put to work, as we play our part in the sector's efforts to modernise its real estate.'
'Investing only in high quality, purpose-built and future proof homes is fundamental to our mission to support the care sector whilst delivering attractive returns to shareholders.'
'The valuation uplifts we have seen during the quarter demonstrate the quality of the portfolio we have been patiently building.'
'Furthermore, the increase in occupancy we are seeing is encouraging and as anticipated based on feedback from our tenants in recent months.'