INTERVIEW: St Modwen Properties To Maintain Or Raise Dividend

By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Property company St. Modwen Properties PLC (SMP.LN) expects to maintain or even increase its dividend payments, Chief Executive Bill Oliver said Monday, after the company resumed dividends for the first time in two years. "The board would not have approved a dividend if we couldn't maintain it or even grow it," he told Dow Jones Newswires. "This is the biggest message for our shareholders." St. Modwen Monday said it would pay an interim dividend of 1 pence a share. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires July 05, 2010 04:01 ET (08:01 GMT)