Assura ups divi on strong performance
WARRINGTON-based healthcare centre developer Assura has increased its dividend after a period of growth.
The company plans to increase its annual dividend by 49% to 1.8p, or by 0.45p a quarter.
In the six months to the end of September income grew from £18.3m to £19m and pre-tax profits were up to £5.4m from £4.9m.
Assura now has a rent roll of £40.7m from around 200 properties. Net rental income grew by 5.9% to £17.9m during the period.
In September Assura agreed a £62.9m deal to buy 32 Sunderland-based Trinity Medical Properties and its sister company Trinity Medical Developments which have 32 medical centres.
Chief executive Graham Roberts said: “These results build on our achievements last year. Our performance has been driven by intensive management actions over the period as we continue to drive value from our core investments, grow our asset base, extract value from our non-core portfolio and add value through financial discipline.
“This together with our successful acquisition of the Trinity portfolio has allowed us to make a step change increase in our quarterly dividend of 49%, and retain our progressive dividend policy.
“Demands on the NHS will continue increasing, and primary care must play a key and growing role in meeting the nation’s future healthcare needs. Assura, through its expertise, development programme and low cost structure, is well placed to help deliver primary care space for the future.”
