Mon. Jun 17th, 2024
Life Science Reit cuts dividend due to economic uncertainties affecting rollout速Life Science Reit reduces dividend payout amidst economic challenges hindering expansion efforts

In its annual results for the year ending on December 31, Life Science Reit (LABS) announced that it will be reducing its dividends for 2023. The fund cited economic uncertainty, occupiers postponing rental decisions, and high interest rates as factors contributing to the difficult decision to rebase the dividend. Despite reporting good progress during the 12-month period, LABS decided to halve its dividends to 2p per share, with the second payment for the year decreased from 3p to 1p per share.

The goal of this adjustment is to ensure that the dividend is covered by earnings and can grow sustainably from this new level. By making this change, LABS hopes to provide additional financial flexibility for itself in order to deliver on its strategy in a challenging market environment. The fund remains optimistic about its future prospects and is focused on creating value for shareholders in the years ahead.

By Aiden Nguyen

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