LONDON (Alliance News) - F&C Commercial Property Trust Ltd on Friday said it delivered a robust net asset value total return and share price total return for 2014 and said it has maintained its dividend payout.
The FTSE 250-listed commercial property investment trust said its net asset value total return for the year was 22.1% and the share price total return was 18.8%. The total return from the portfolio was 20.3%, compared to a total return of 17.9% from the Investment Property Databank Quarterly Universe, F&C said.
The company said it has maintained its dividend payout at 6 pence for the year, comprising 12 monthly payments of 0.5p per share and making a dividend yield of 4.4%.
The trust said the commercial property sector performed well in the year, boosted by a broad-based recovery in the UK economy. In addition, overseas demand for commercial property remained robust and was the primary driver of the high returns over the year.
F&C said there are some short-term uncertainties in the market, primarily around the upcoming UK general election and the possibility of a referendum on Britain's EU membership, but it thinks the outlook for commercial property remains positive.
Shares in the trust were down 0.4% to 142.11 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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