Atlantic Leaf opts to take UK Reit status
The property company grew its dividend per share 7% in the period
Atlantic Leaf Properties will convert to a UK Real Estate Investment Trust (Reit) to be closer to its shareholder base and add impetus to its strong growth trajectory, says CEO Paul Leaf-Wright. "We are on track to have £400m in assets under management at the end of the next financial year. We are reaching a point where we need to have our board meetings in the UK and operate within the rules of UK Reits," he said, following the release of financial results for the year to February. The company, which is listed on the Stock Exchange of Mauritius and the JSE and invests in commercial property assets in light industrial nodes in the UK, grew its dividend per share 7% during the reporting period. The company declared a dividend of 9.1p per share compared with 8.5p for the year before. Total assets under management grew 16% from £304m to £352m during the financial year. Leaf-Wright said the company had managed to keep its loan-to-value ratio below 50%, with the ratio sitting at 41.6% at...