CUSTODIAN PROPERTY INCOME REIT PLC (CREI) — NAV Update

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the CUSTODIAN PROPERTY INCOME REIT PLC investor presentation. Throughout this quarter presentation, investors will be in listen only mode. Questions are encouraged and can be dismissed at any time by the Q and A tab situated at the right hand corner of your screen. Just simply type in your questions and press send. The company may not be in a position to answer every question received in the meeting itself. However, the company can review all the questions submitted today and publish response to it as appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to Richard Shepherd Cross. Good morning to you, sir. Good morning, and welcome to this short webinar following our March 2024 quarterly trading update, which was released on the May 1. I'll speak for about ten minutes, and then as you've just heard, there will be an opportunity for q and a. So please do submit those questions, which you can do on the right hand side of your screen. For the quarter ending March 31, we paid a dividend of 1.375 per share, which is an annualized 5.5p per share, which was fully covered by EPRA earnings from the period. And we are pleased to have also announced a special dividend of 0.3p per share, taking the annual dividend to 5.8p, which was also fully covered by EPRA earnings. Giving some forward guidance, we have announced a 9% increase in the prospective dividend, taking it to a target of 6p per share, which is which, based on the prevailing share price as at the date of the announcement, offered a very attractive dividend yield of 8.1%. We've been able to increase the dividend due to the strength of the occupational market as evidenced by the rental growth and leasing activity we've enjoyed through the...