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(Alliance News) - Land Securities Group PLC on Monday announced an amendment to its December quarter rent collection rate, confirmed its third quarterly dividend payment and appointed a new non-executive director.
The London-based commercial property developer said for the period between March 25 and December 24, the rent collection rate for Offices was 99% and 70% for the rest of central London, not 99% and 82% respectively, as previously reported in January. All other details remain unchanged.
Additionally, Land Securities confirmed the third quarterly dividend for financial 2021 will be 6.0 pence per share and will be paid entirely as a property income distribution. The company said in November it was resuming quarterly dividends beginning with a 12.0p per share payment on January 4, which represents an aggregated payment for the first two quarters of the year.
Shares in Land Securities were up 1.8% at 625.80 pence each in London on Monday morning.
The company also has appointed Manjiry Tamhane as an independent non-executive director effective March 1. Tamhane is currently global chief executive of Gain Theory, a marketing effectiveness consultancy which is a subsidiary of WPP PLC. Tamhane was part of a team that founded Gain Theory in 2015.
"Manjiry's in-depth knowledge of advanced analytics, data, technology and strategic planning, combined with experience of the retail sector, will be a great asset to the board," said Chair Cressida Hogg.
Land Securities said it will announce its results for the financial year ended March 31, 2021 on May 18.
By Zoe Wickens; zoewickens@alliancenews.com
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