Picton Property Income Ld Dividends - PCTN

Picton Property Income Ld Dividends - PCTN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Picton Property Income Ld PCTN London Ordinary Share GB00B0LCW208 ORD NPV
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 90.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
90.00
more quote information »
Industry Sector
REAL ESTATE INVESTMENT & SERVICES

Picton Property Income Ld PCTN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
28/01/2021InterimGBX0.831/08/202031/12/202004/02/202105/02/202126/02/20210
26/10/2020InterimGBX0.730/03/202030/09/202005/11/202006/11/202030/11/20200
24/07/2020InterimGBX0.6201/03/202030/06/202006/08/202007/08/202028/08/20200
28/04/2020InterimGBX0.6331/03/201931/03/202007/05/202011/05/202029/05/20203.25
03/02/2020InterimGBX0.8731/08/201931/12/201913/02/202014/02/202028/02/20200
24/10/2019InterimGBX0.8830/03/201930/09/201931/10/201901/11/201929/11/20190
29/07/2019InterimGBX0.8702/03/201930/06/201908/08/201909/08/201930/08/20190
24/05/2019InterimGBX0.8831/03/201831/03/201909/05/201910/05/201931/05/20193.5
23/01/2019InterimGBX0.8731/08/201831/12/201831/01/201901/02/201928/02/20190
23/10/2018InterimGBX0.8830/03/201830/09/201815/11/201816/11/201830/11/20180
24/07/2018InterimGBX0.8702/03/201830/06/201809/08/201810/08/201831/08/20180
24/04/2018InterimGBX0.8831/03/201731/03/201810/05/201811/05/201831/05/20183.45
24/01/2018InterimGBX0.8731/08/201731/12/201708/02/201809/02/201828/02/20180
15/11/2017InterimGBX0.8530/03/201730/09/201716/11/201717/11/201730/11/20170
25/07/2017InterimGBX0.8502/03/201730/06/201710/08/201711/08/201731/08/20170
25/04/2017InterimGBX0.8531/03/201631/03/201711/05/201712/05/201731/05/20173.35
24/01/2017InterimGBX0.8531/08/201631/12/201609/02/201710/02/201728/02/20170
15/11/2016InterimGBX0.8330/03/201630/09/201610/11/201611/11/201630/11/20160
20/07/2016InterimGBX0.8201/03/201630/06/201611/08/201612/08/201631/08/20160
20/04/2016InterimGBX0.8331/03/201531/03/201612/05/201613/05/201631/05/20163.3
21/01/2016InterimGBX0.8231/08/201531/12/201511/02/201612/02/201629/02/20160
17/11/2015InterimGBX0.8330/03/201530/09/201512/11/201513/11/201530/11/20150
28/07/2015InterimGBX0.8202/03/201530/06/201513/08/201514/08/201528/08/20150
20/04/2015InterimGBX0.82531/03/201431/03/201514/05/201515/05/201529/05/20153.08
21/01/2015InterimGBX0.7531/08/201431/12/201412/02/201513/02/201527/02/20150
20/10/2014InterimGBX0.7530/03/201430/09/201413/11/201414/11/201428/11/20140
23/07/2014InterimGBX0.7502/03/201430/06/201413/08/201415/08/201429/08/20140
23/04/2014InterimGBX0.7531/03/201331/03/201414/05/201416/05/201430/05/20143
22/01/2014InterimGBX0.7531/08/201331/12/201312/02/201414/02/201428/02/20140
22/10/2013InterimGBX0.7530/03/201330/09/201313/11/201315/11/201329/11/20130
24/07/2013InterimGBX0.7502/03/201330/06/201314/08/201316/08/201330/08/20130
29/04/2013InterimGBX0.7501/12/201231/03/201315/05/201317/05/201331/05/20133.25
28/01/2013InterimGBX0.7531/08/201231/12/201213/02/201315/02/201328/02/20130
24/10/2012InterimGBX0.7530/05/201230/09/201214/11/201216/11/201230/11/20120
31/07/2012InterimGBX101/03/201230/06/201208/08/201210/08/201224/08/20120
25/04/2012InterimGBX101/12/201131/03/201209/05/201211/05/201225/05/20124
26/01/2012InterimGBX131/08/201131/12/201108/02/201210/02/201224/02/20120
25/10/2011InterimGBX130/05/201130/09/201109/11/201111/11/201125/11/20110
28/07/2011InterimGBX102/03/201130/06/201110/08/201112/08/201126/08/20110
27/04/2011InterimGBX0.7501/12/201031/03/201111/05/201113/05/201127/05/20113.75
31/01/2011InterimGBX131/08/201031/12/201009/02/201111/02/201128/02/20110
25/10/2010InterimGBX130/05/201030/09/201010/11/201012/11/201030/11/20100
29/07/2010InterimGBX102/03/201030/06/201011/08/201013/08/201031/08/20100
15/04/20101GBX101/12/200931/03/201005/05/201007/05/201028/05/20100
03/02/20101GBX131/08/200931/12/200910/02/201012/02/201026/02/20104
09/10/20091GBX130/05/200930/09/200911/11/200913/11/200930/11/20090
28/07/20091GBX102/03/200930/06/200912/08/200914/08/200928/08/20090
03/02/20091GBX131/08/200831/12/200811/02/200913/02/200927/02/20095.12
04/11/20081GBX130/05/200830/09/200812/11/200814/11/200828/11/20080
06/08/20081GBX1.562501/03/200830/06/200813/08/200815/08/200829/08/20080
08/05/20081GBX1.562501/12/200731/03/200814/05/200816/05/200830/05/20080
05/02/2008FinalGBX1.5631/08/200731/12/200713/02/200815/02/200829/02/20086.25
31/10/20071GBX1.5630/05/200730/09/200714/11/200716/11/200730/11/20070
09/08/20071GBX1.5602/03/200730/06/200715/08/200717/08/200731/08/20070
10/05/20071GBX1.5601/12/200631/03/200716/05/200718/05/200731/05/20070
05/02/2007FinalGBX1.5631/08/200631/12/200614/02/200716/02/200728/02/20076.25
02/11/20061GBX1.5630/05/200630/09/200608/11/200610/11/200630/11/20060
10/08/20061GBX1.5602/03/200630/06/200616/08/200618/08/200631/08/20060
11/05/20061GBX1.5601/12/200531/03/200617/05/200619/05/200631/05/20060
09/02/2006FinalGBX1.1631/12/200431/12/200515/02/200617/02/200628/02/20061.16

Top Dividend Posts

DateSubject
16/4/2021
13:27
skyship: PCTN looking seriously over-valued at 91.5p on a mere 4.7% discount and just a 3.52% yield. Bear in mind that their expensive debt at 4.2%pa (fixed for 9yrs) places severe restrictions on dividend growth. They should have rescheduled that debt long ago - bitten the bullet in the same way SREI did just over a year ago.
28/1/2021
10:42
nickrl: NAV update today and another one that has shown an increase this time by 3.0% to 95.5 pence (30/9/20 92.7 pence). Also qtrly div is up from 0.7 to 08p lifting yield to just shy of 4% on todays share price and 122% covered so scope for a bit more. Another one with weasel words over rent collection saying "87% of December 2020 rents have been collected or are expected to be received under monthly payment plans" So how much have they got in the bank and what still to come would be more transparent but each propco seems to have its format over this should be a minimum information requirement. Good asset mgt news and they've unloaded a big retail asset. https://www.londonstockexchange.com/news-article/PCTN/net-asset-value-as-at-31-december-2020/14843292
12/11/2020
12:43
speedsgh: Pretty impressive results in view of the circumstances. They managed to turn a profit, EPRA NAV unchanged at 93p since Mar 20 and dividend cover of 129% excluding additional income (admittedly after a dividend reduction)... Half Year Results - HTTPS://www.investegate.co.uk/picton-prop-inc-ltd--pctn-/prn/half-year-results/20201112070000PBD62/ Financial Highlights ~ EPRA earnings of £10.1 million ~ Profit of £3.7 million ~ Net assets of £506 million, or 93p per share ~ Total return of 0.7% ~ Dividend cover of 148% ~ Loan to value ratio of 22% ~ £50 million available through new undrawn revolving credit facility Operational Highlights ~ Total property return of 1.5%, outperforming the MSCI UK Quarterly Property Index of -1.6% ~ Occupancy increased to 90% ~ Nine lettings completed, securing £1.2 million per annum, 2.8% ahead of March 2020 ERV ~ 16 lease renewals / regears completed, retaining £2.3 million per annum, 14.3% above March 2020 ERV ~ Five rent reviews completed, securing an uplift of £0.3 million per annum, 16.3% above March 2020 ERV ~ Additional income of £1.3 million received from asset management initiatives ~ Retail and Leisure exposure reduced to 12% from 18% of the total property portfolio Rent Collection ~ Received 90% of the March quarter’s rent, expected to rise to 96% under agreed deferred payment plans ~ Received 90% of the June quarter’s rent, expected to rise to 93% under agreed deferred payment plans ~ To date 93% of the September quarter’s rent has been collected or is expected to be received under monthly payment plans Subsequent Events ~ Dividend increased by 12% to 2.8p per share effective November 2020 ~ Completed a further £0.4 million per annum of lettings, 2.4% above September 2020 ERV, including the first letting at Stanford Building, WC2 ~ Good leasing pipeline with approximately £0.7 million per annum of transactions agreed, subject to contract, across industrial, office and retail sectors Picton Chairman, Nicholas Thompson, commented: “Picton has delivered a profit in what has undoubtedly been a challenging period. Cognisant of this performance and the overall strength of the balance sheet, we felt it was appropriate to take the first step in restoring the dividend to pre-Covid levels by announcing a 12% increase, effective November 2020.” Michael Morris, Chief Executive of Picton, commented: “We have delivered robust progress at a portfolio level and rent collection in excess of 90%. As well as improving occupancy, generating additional income to offset Covid-19 impacts and completing some key asset management projects, we have also increased our weightings to the better performing industrial and office sectors.” -------------------------------- Our EPRA earnings for the period are similar to last year. Despite lower than usual rent collection we have been able to offset this with additional one-off income from active management initiatives, whilst reducing both property and administrative costs relative to this period last year. -------------------------------- Dividend cover for the six months was 148%, or 129% excluding additional income. Recognising our rent collection performance and high dividend cover we have decided to increase the dividend by 12% to 0.7 pence per quarter, effective from the November payment which is a first step in restoring the dividend to its previous level.
26/10/2020
19:07
spectoacc: Thanks @nickrl, didn't realise the Covent Gdn one vacant. There's a few have nudged divi back up (or reinstated) but I take issue with PCTN trumpeting it as a "12% increase" :)
26/10/2020
19:02
nickrl: These were carrying a fair void cost at year end but they've off loaded a Peterborough asset which had one void and an imminent loss of TK Maxx in Mar 21 so that will help but the reclassified W.End office in Covenant Gdn still vacant. They also have c22% of the NRI subject to break/expiry Apr20 to Apr22 ordinarily a positive but who knows in this environment so void costs could worsen. Negative comments out the way these are the first to increase a previously reduced dividend so BoDs must be confident they can maintain rental collection around 85-90% to cover it. As Specto says yield a paltry 4.6% at close but can't see much more upside on divi from here until things improve.
26/10/2020
08:19
spectoacc: As always, spoilt for choice, but PCTN reminds me a lot of UCKM. Large (half a billion quid of property), low LTV (half what some have), but poxy yield. A 12% increase of squat is still squat :) 4.5% yield now I reckon? Claim very low retail exposure but helped by reclassifying one asset from High St Retail to West End Office. Either canny property management, or canny classification. 49% industrial, ought to be on a better yield IMO. I like PCTN - and UKCM - both seem conservative and "cheap" in any normal scenario. But neither stack up that well against everything else on offer atm.
04/8/2020
14:43
skyship: nickrl Bizarrely, no shortage of good income plays. RECI for sure. At 127p, with the covered and retained 12p dividend the yield = 9.45% INLZ - a ZDP. At 153.5p the GRY (YTM) = 7.5% AIRE - as you know, another propco, but trading at a well covered, reduced dividend yield of 6.3% and a 41% NAV discount. IMO the Divi likely to be higher than the 3.3p conservatively stated.
23/6/2020
12:58
danielbird193: Thanks, I hadn't spotted it was results day. I have been burying my head in the sand a bit in respect of my property exposure, but PCTN has always been a quality operator and that quality has shone through in the recent crisis. While they haven't been immune from the struggles of the wider commercial property sector, the fact that their NAV per share has held steady over the year we've just had shows real skill from management. In particular, selling assets above book value and using the proceeds to pay down debt seems to have been a sensible move in the current environment. The company's leverage ratio is modest and the fact they've maintained the dividend shows there isn't an imminent cash crunch. I continue to be a happy holder here.
03/2/2020
11:28
speedsgh: Dividend Declaration - HTTPS://uk.advfn.com/stock-market/london/picton-property-income-ld-PCTN/share-news/Picton-Prop-Inc-Ltd-Dividend-Declaration/81650162 Picton today announces an interim dividend payment in respect of the financial period from 1 October 2019 to 31 December 2019, of 0.875 pence per share. The dividend timetable is set out below: Ex-Dividend Date - 13 February 2020 Record Date - 14 February 2020 Pay Date - 28 February 2020 The dividend of 0.875 pence per share will be designated as a property income distribution ('PID').
03/2/2020
11:27
speedsgh: Net Asset Value as at 31 December 2019 - HTTPS://uk.advfn.com/stock-market/london/picton-property-income-ld-PCTN/share-news/Picton-Prop-Inc-Ltd-Net-Asset-Value-as-at-31-Decem/81649951 NAV growth and strengthened balance sheet through debt reduction * Net assets increased to GBP519.1 million (30 September 2019: GBP510.7 million). * NAV/EPRA NAV per share rose 1.7% to 95.2 pence (30 September 2019: 93.6 pence). * Total return for the quarter of 2.6% (30 September 2019: 1.6%). * LTV reduced to 22.4% (30 September 2019: 24.5%). Dividend declared * Dividend of 0.875 pence per share declared and to be paid on 28 February 2020 (30 September 2019: 0.875 pence per share). * Annualised dividend equivalent to 3.5 pence per share, delivering a dividend yield of 3.5%, based on 30 January 2020 share price. * Dividend cover for the quarter of 114% (30 September 2019: 114%). Further valuation uplift driven by asset management * Like-for-like increase in property portfolio valuation for the quarter of 1.4% (30 September 2019: 0.7%) driven primarily by industrial and regional office sector gains. * GBP3.3 million invested in over 10 refurbishment and repositioning projects. * Secured an average increase of 11% against the September ERV from nine lease events (renewals, regears and one rent review), with a combined annual rent of GBP3.0 million. * Completed nine lettings on average 3% ahead of the September ERV, with a combined annual rent of GBP0.5 million. * Agreed to pre-lease Shipton Way, Rushden, to Whistl UK Limited at an annual rent of GBP1.6 million who will become the Company's largest single occupier from October 2020, when the existing occupier vacates. * Completed the disposal of an office building in Croydon for GBP18.2 million. * Stable occupancy of 88% (30 September 2019: 88%). Nick Thompson, Chairman of Picton, commented: "We have delivered another positive uplift in net assets, whilst at the same time reducing borrowings and increasing the amount available under our revolving credit facilities to capitalise on any emerging opportunities." Michael Morris, Chief Executive of Picton, commented: "The asset management activity over the quarter, driven by a number of key leasing and regear transactions, has delivered further growth. Our primary focus is our refurbishment programme and corresponding leasing activity to drive both income and value."
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