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(Alliance News) - NewRiver REIT PLC on Wednesday held its dividend for the third quarter of its financial year amid a "resilient" operational performance.
For the three months to the end of December, the real estate investment trust said retail occupancy at the end of the period improved to 96.1%, compared to 95.6% as at September 30, while the average retail rent increased slightly, by 0.8%, to GBP12.59 per square foot.
In the pub-owning unit Hawthorn Leisure like-for-like earnings before interest, taxes, depreciation and amortisation have risen by 4.9% in NewRiver's current financial year to date, and pub occupancy as at December 31 edged higher to 97.9% from 96.9% in September.
NewRiver declared a quarterly dividend of 5.4 pence per share, in line with the year before.
In the year to date, NewRiver REIT has made GBP70.3 million in disposals, and GBP163.1 million in acquisitions.
"We were pleased with the robust Christmas trading performance of a number of our top 15 tenants, including Sainsbury's, B&M, Primark, Next and Iceland. With a clear strategy and a portfolio focused around occupiers providing convenience, value and services, we feel well-positioned to navigate our way through these challenging market conditions," said Chief Executive Allan Lockhart.
Shares in NewRiver, which is based in London, were up 1.6% at 190.60 pence on Wednesday in early trading.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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