AEW UK REIT dividend remains uncovered as tenant administrations hit earnings

Quarterly NAV decline of 2.3%

clock • 2 min read

AEW UK REIT's earnings have been impacted by the administration of two tenants, which resulted in the quarterly dividend of 2p remaining uncovered in the final quarter of 2023.

On Thursday (25 January), the £218m trust reported earnings per share for the quarter of 1.83p, which came short of the 2p dividend. Management noted earnings were constrained by 28p due to Wilko and CJ Services both entering administration. "EPRA earnings per share have been negatively impacted by 28p due to two tenants entering administration during the period, without which the company's dividend would have been fully covered by earnings this quarter," the trust said. According to Numis, AEWU's 2p dividend, which is equivalent to an annualised yield of 8.3%, has not been covered by...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment Trusts

Trustpilot