LONDON (Alliance News) - AEW UK Long Lease REIT PLC said Wednesday it is targeting a 5.5 pence per share total dividend for the 2019 financial year, after its net asset value for fourth quarter of 2018 financial year increased by 4.6%.
The company, which owns a portfolio of UK commercial property assets, posted net asset value of 94.94p per share for the three months to June 30, up from 90.79p recorded at the end of March. The increase was mainly as a result of uplift in valuation of the company's investments.
AEW UK declared a dividend of 1.25p per share for the fourth quarter.
"Based on target dividends as set out within the group's prospectus, the board is targeting an aggregate dividend of 5.50 pence per share for the year commencing 1 July 2018," the company said.