Assura increases divi payment following strong financial performance

Assura CEO Jonathan Murphy
X The Business Desk

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Healthcare property investor and developer Assura has increased its quarterly dividend following another strong financial performance.

The Warrington headquartered company reported net income of £121.7m for the year to the end of March 2021.

That was up 12% from £108.9m in the previous year.  Pre-tax profit grew 37% to £108.3m, up from £78.9m in 2020.

The medical centre landlord announced its eighth consecutive year of dividend growth with a 4.2% increase in quarterly dividend to 0.74 pence per share with effect from the July 2021 payment.

During the period, Assura grew its portfolio of properties from 576 to 609, serving 5.9 million people across the UK.

It completed 12 developments this year, a record number for the group with a further 16 on site at a total cost of £72m.

The group also completed 50 acquisitions for £230m, 29 disposals with proceeds of £26m during the financial period.

Assura’s medical centre in Hastings

CEO Jonathan Murphy said: “Over the year we continued to build on our market-leading position, delivering a strong financial performance, a record number of new developments in local communities and significant progress on our social impact strategy, SixBySix.

“With an ageing population and challenges exacerbated by COVID-19, NHS services are under intense pressure.

“Well-designed and located community healthcare spaces that meet the ever-changing requirements of GPs and their patients will play an essential role in reducing this pressure on hospitals and the wider health service.

“With our largest ever development pipeline and deep understanding of the NHS, we are well-placed to continue delivering such space and to support it through key emerging trends including digitalisation, the integration of healthcare systems and mental health support.

“The NHS is seeking to become the world’s first net zero carbon health system and we have set tough targets for ourselves, as we believe our contribution to improving health in communities must reach far beyond our buildings.

“After another successful year, we look forward with confidence to progressing our strategy and continuing to deliver value for our shareholders and wider stakeholders.”