(Alliance News) - Property firm Daejan Holdings PLC on Tuesday boosted its annual dividend despite a fall in profitability.
Daejan, which is part of the Freshwater Group, is paying a final dividend of 71 pence for the year to March, taking the year's total to 106p, up 2.9% year-on-year.
Daejan's pretax profit fell, however, by 32% to GBP137.8 million, though net rental income rose 15% to GBP76.6 million. The property portfolio was worth GBP2.53 billion at year's end, from GBP2.37 billion before, a rise of 6.8%.
Shares in the FTSE 250 firm were 0.9% lower on Tuesday morning in London at 5,650.00 pence each.