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Student accommodation company Empiric Student Property touted 'encouraging' bookings levels for the upcoming academic year after revenue occupancy for the 2021/22 academic year was at the top end of its guidance despite the impact of the pandemic.
Revenue occupancy for the academic year 2021/22 was 'towards the top end of our guidance at 84%, despite the academic year being clearly impacted by the pandemic,' the company said.
Since its announcement on 5 November 2021, revenue occupancy across its portfolio has increased from 81% to 84% compared with last year's 68%.
Looking ahead, the company said it expected strong demand from both domestic and international students for academic year 2022/23, supported by the ongoing lifting of restrictions and opening up of international travel.
'We are also encouraged by the start of our booking cycle for the forthcoming academic year 2022/23.'
The company continued to target a dividend of at least 2.5 pence for the financial year 2022.
'We continue to expect to re-instate regular dividend payments that will be fully covered and progressive in nature, and paid quarterly, commencing in Q1 2022,' the company said.