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Care home investor Target Healthcare REIT declared a third interim dividend for its 2020 financial year amid continued demand for beds during the Covid-19 crisis.
The company declared a third interim dividend of 1.67p per share for the year through June, marking an increase of 1.5% on-year.
Its net asset value total return for the three months through march was 1.5%, underpinned by revaluation gains and the regular dividend.
Thirteen rent reviews were completed at an average uplift of 2.6% per annum.
'Given the fast-moving nature of the Covid-19 pandemic, it is impossible to predict with any certainty what sort of impact we may see across our portfolio,' chief executive Kenneth MacKenzie said.
'Whilst we expect to see a small number of care homes disproportionately affected, our investment strategy has always focused on the quality and design facilities of the properties, underpinned by a forensic approach to understanding local market dynamics.'
'Nothing has changed our conviction that this approach, coupled with the underlying demographic trends supporting strong demand for care home beds, will underpin the delivery of reliable and sustainable income over the long term.'
At 9:50am: (LON:THRL) Target Healthcare Reit Ltd share price was -3.6p at 102.2p