Capital & Regional shares surge on rising dividend and earnings
Capital & Regional, the retail fund listed in the UK and SA, grew its interim dividend 6.8% in the six months to June, thanks to a strong performance from its shopping centres. The market reacted favourably to the results, with the company’s share price rising more than 5% on Thursday, after it declared an interim dividend of 1.73p. The owner of malls in secondary UK cities could become a takeover target if it continues to reward investors and hold on to its assets. Capital & Regional wholly owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. It also has a 20% interest in the Kingfisher centre in Redditch. The group manages these assets, which comprise more than 900 retail units and attract about 1.7-million shopping visits each week, through its in-house property and asset management platform. CEO Lawrence Hutchings said the results were helped by the well-positioned centres focused on convenience. With a market capitalis...
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