Business
NAV Update and Dividend Declaration - Replacement
NAV Update and Dividend Declaration - Replacement.
About this update from Aew Uk Reit Plc
[{"type":"text","content":"\n \n \n \n \n \n This announcement replaces the announcement released under RNS number 1929N at 07:00 hours on 19 January 2023. The property sector table has been updated to amend certain like-for-like value movements which were shown incorrectly, with consequential changes to paragraphs two and three of the Portfolio Manager's Review. No other changes have been made and the overall movement in valuation has not changed. The changes\n do not impact the Company's NAV calculation, nor the Company's reported earnings.\n \n \n \n \n \n 28 February 2023\n \n \n \n \n \n \n \n \n AEW UK REIT plc\n \n \n \n \n \n \n \n NAV Update and Dividend Declaration\n \n \n \n \n \n \n AEW UK REIT plc (LSE: AEWU) (\"AEWU\" or the \"Company\"), which directly owns a value-focused portfolio of 37 regional UK commercial property assets, announces its unaudited Net Asset Value (\"NAV\") as at 31 December 2022 and interim dividend for the three-month period ended 31 December 2022.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n \n ·\n NAV of 166.24 million or 104.93 pence per share as at 31 December 2022 (30 September 2022: 193.08 million or 121.88 pence per share).\n \n \n ·\n NAV total return of -12.26% for the quarter (30 September 2022 quarter: -2.07%).\n \n \n ·\n -10.82% like-for-like valuation decrease for the quarter (30 September 2022 quarter decrease: -3.71%).\n \n \n ·\n Share price total return of 10.68% for the quarter (30 September 2022 quarter: -16.89%).\n \n \n ·\n EPRA earnings per share (\"EPRA EPS\") for the quarter of 1.34 pence (30 September 2022 quarter: 1.08 pence).\n \n \n ·\n Interim dividend of 2.00 pence per share for the three months ended 31 December 2022, paid for 29 consecutive quarters and in line with the targeted annual dividend of 8.00 pence per share. \n \n \n ·\n Loan to NAV ratio at the quarter end was 36.09% (30 September 2022: 31.07%). Significant headroom remains on all loan covenants.\n \n \n ·\n Company will continue to benefit from a fixed cost of debt of 2.959% until May 2027.\n \n \n ·\n Acquisition of a freehold retail asset in Bromley for a purchase price of 5.30 million, representing a low capital value of&...