IN BRIEF: Pandemic Revaluations Hurt Palace Capital Net Asset Value

Palace Capital PLC - real estate investment trust since August 2019 conversion with headquarters ...

Alliance News 7 July, 2020 | 2:50PM
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Palace Capital PLC - real estate investment trust since August 2019 conversion with headquarters in London - EPRA net asset value 364 pence as at March 31 year end, down from 407p the year before. Reduction due to "asset revaluations following the pandemic and strategic capital expenditure on development and refurbishments". Proposes final dividend 2.5p per share, taking total per share to 12.0p from 19.0p year before after cancelling third quarter interim dividend. Chief Executive Neil Sinclair positive on company's ability to pay "sustainable level of dividends".

Current stock price: 183.48p

Year-to-date change: down 44%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Palace Capital PLC 194.00 GBX 2.78 -

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