Capital & Regional expects to maintain 5% dividend growth
The company achieves strong results in the under-pressure UK retail market
Retail property group Capital & Regional expects to maintain full dividend growth of 5% for the full year, helped by continued growth of its UK retail assets. CEO Lawrence Hutchings said the company, which released its results for the six months to June on Tuesday, wants to maintain dividend growth as this appeals to local investors who invest in the stock as a currency hedge. The company, which owns community centres instead of large malls, achieved strong results in the under-pressure UK retail market. "This is a robust set of results that demonstrates our strategy is delivering for our communities, our retailer customers and for our shareholders," Hutchings noted. "We increased our adjusted profit and footfall, something which few other UK mall owners have been able to achieve, especially super-regional mall owners," he said. Capital & Regional declared a 5.2% increase in its first-half dividend to 1.82p per share. Pretax profits fell to £6.7m during the reporting period, compare...
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