Source - LSE Regulatory
RNS Number : 4534N
Land Securities Group PLC
01 February 2021
 

1 February 2021

Land Securities Group PLC ('Landsec')

Dividend declaration, confirmation of annual results date and correction to December rent collection data

 

In the half-yearly results released on 10 November, Landsec announced it was resuming quarterly dividends commencing with a 12.0p per share payment on 4 January 2021, representing an aggregated payment for the first two quarters of the year. Landsec today confirms that the third quarterly dividend for the 2020/21 financial year will be 6.0p per ordinary share and will be paid on 30 March 2021 to shareholders on the register at the close of business on 26 February 2021. The dividend will be paid entirely as a Property Income Distribution. The last date for DRIP elections is 9 March 2021.

 

Landsec also confirms that it will announce its annual results for the financial year ended 31 March 2021 on Tuesday 18 May 2021. The format of the results presentation and dial-in details will be confirmed closer to the announcement date.

 

The following amendment has been made to the December quarter rent collection announcement released on 12 January 2021 at 07:00 under RNS Number 3165L.

 

Landsec's December quarter rent collection announcement issued on 12 January stated that, for the period from 25 March 2020 to 24 December 2020, the rent collection rate for Offices was 99% and 82% for the rest of Central London. The allocation between these two sectors was incorrect. The correct rent collection figures were 99% and 70% respectively. All other details remain unchanged.

 

The table below shows the corrected information:

For the period ended 24 December 2020(1)(2)

 

 

 

Agreed changes

in payment terms

 

 

 

 

Gross amounts

due for the period(3)

£m

Impact of CVAs and admins

£m

Concessions

£m

Deferred payments

£m

Net amounts due for the period(3)

£m

Amounts received

to date

£m

Amounts received

to date

%

Offices

253

-

-

(2)

251

249

99

Offices - previously disclosed

224

-

-

(2)

222

220

99

Rest of Central London

48

(1)

(4)

-

43

30

70

Rest of Central London - previously disclosed

77

(1)

(4)

-

72

59

82

Regional retail

153

(8)

(11)

(3)

131

76

58

Urban opportunities

23

(1)

(1)

(1)

20

11

55

Subscale sectors

76

(5)

(5)

(2)

64

42

66

Total

553

(15)

(21)

(8)

509

408

80

 

1.     Including our proportionate share of subsidiaries and joint ventures, as explained in the Presentation of financial information above.

2.     All amounts are shown gross of VAT. Where an amount billed remains uncollected and is subsequently written off, the VAT component will be recovered by the Group.

3.     Due dates from 25 March 2020 to 24 December 2020. Does not include 25 December 2020 quarter day rents.

 

 

Ends

 

 

About Landsec

 

At Landsec, we strive to connect communities, realise potential and deliver sustainable places.

 

As one of the largest real estate companies in Europe, our £11.8bn portfolio spans 24 million sq ft (as at 30 September 2020) of well-connected retail, leisure, workspace and residential hubs. From the iconic Piccadilly Lights in the West End and the regeneration of London's Victoria, to the creation of retail destinations at Westgate Oxford and Trinity Leeds, we own and manage some of the most successful and memorable real estate in the UK.

 

We aim to lead our industry in critical long-term issues - from diversity and community employment to carbon reduction and climate resilience. We deliver value for our shareholders, great experiences for our customers and positive change for our communities.

 

 

Find out more at landsec.com

 

 

Please contact:


Investors

Ed Thacker

+44 (0)20 7024 5185

Edward.Thacker@landsec.com

 

Press

Jonathan Sibun (Tulchan Group)

+44 (0)7779 999 683

JSibun@tulchangroup.com

 

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