Primary Health Properties Dividends - PHP

Primary Health Properties Dividends - PHP

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Stock Name Stock Symbol Market Stock Type
Primary Health Properties Plc PHP London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
1.40 0.91% 156.00 16:35:24
Open Price Low Price High Price Close Price Previous Close
155.00 154.20 156.00 156.00 154.60
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Industry Sector

Primary Health Properties PHP Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

grahamg8: Perfect prediction Perfecto. I doubt however that it was your influence. More likely the dividend announcement goes out in the first week of October. Each year it moves forward by 1 day - 52 weeks x 7 days =364 add 1 day = 1 year. Last Thursday was 30 September so didn't qualify as an October announcement, so it has been put back to today. Anyhow dividend retained and with a falling share price we could be entering top up territory.
perfect choice: Have I missed something or are PHP late declaring their quarterly dividend this month? Last announcement was 1st July, last year is was 1st October 2020, so running late? Not an issue, just curious. Queue 7am RNS tomorrow as a result of posting this now!
paulboz: I think there are a few reasons for the drop e.g.1. Inflation fears meaning the dividend isn't so attractive 2. Apparently, the hedge fund, Citadel shorted PHP.3. The share price reached 170p, which did seemed a tad high
grahamg8: Possible synthetic interest rate hedge. If rates go up, yield on PHP needs to follow, only way is share price down, so a short position would make sense. Counter argument is pressure on interest rates would be caused by higher inflation, PHP rent reviews would be higher in places where there is a link to RPI/CPI, income into PHP rises, drives share price higher. Go long on PHP. Longs and shorts balance out, and hey presto we have a market.
chucko1: Sometimes, shorts are not quite what they appear to be. Do you know what the shorting fund does and what, if anything, they are running against it? For example, Odey used to run a large short in IG Group. All it was was a hedge against regulatory risk messing up their uber long in PLUS. There appears to be a smattering of shorts (above the notifiable hurdle) totalling 2.88% on PHP. None of them notably aggressive.
skinny: Acquisition. Primary Health Properties PLC ("PHP" or the "Group"), one of the UK's leading investors in modern primary healthcare facilities, announces that it has acquired the Townside Primary Care Centre and adjacent office building in Bury, Lancashire for a total consideration of GBP40 million. The Townside Primary Care Centre is a substantial purpose-built primary care hub which is fully let to NHS Property Services and a pharmacy. The office accommodation is also fully let with 90% of the income secured against Bury Council. The combined WAULT for the two adjacent buildings is 10.8 years with 91% of the contracted rent secured against government backed tenants. This acquisition will increase PHP's portfolio to a total of 515 assets, of which 19 are in Ireland, with a contracted rent roll of over GBP138 million. Harry Hyman, Managing Director of Primary Health Properties, commented: "We are delighted to be making this substantial acquisition of a modern, purpose-built hub facility in Bury. The Primary Care Centre is a key component in the delivery of primary care in the area and serves approximately 22,300 patients, with a total of 17 General Practitioners located at the 3 GP practices located in the facility. The adjacent offices at 3 Knowsley Street are a key local government asset and operates as the main administrative offices for Bury Council. "We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."
mirandaj: PHP mentioned as an idea
skinny: Primary Health Properties PLC Interim Results. "The Board looks forward to delivering further earnings and dividend growth and remains confident in PHP's future outlook."
chucko1: ISA, yes. But they use a different third party for SIPP tax reclaims and it's gone spectacularly wrong. They send a bulk claim to HMRC in the November after the end of the relevant tax year and then you wait. Usually until the following March (so some dividends are only paid in full up to 23 months later). In my case, it's far more than that for reasons they are looking into, but after four months after I complained, have so far failed to understand. I have some, therefore, that I have been waiting three years for! I have helped them by sending a spreadsheet with the 200 or so dividend payments (with explicit calculations) where they have failed to repay the tax back into my SIPP. It's the split between ordinary dividends and PIDs which causes the issue. Other dividends (RDSA, for example) are paid in full into a tax-exempt account. There are other reasons to avoid Barclays, including their inability to allow you to buy certain Investment Trusts on the basis that they have not been supplied with the KIID. And yet other brokers appear to have no such problems - again it is stated that this is a function of their third party servicer.
skinny: Trading Update. H1 2020 Trading Update and Notice of Interim Results Primary Health Properties PLC, the UK's leading investor in modern primary healthcare facilities, today publishes a trading update for the six months ended 30 June 2020, alongside the announcement released this morning regarding a proposed equity raise. The Group's operational and financial performance to date remains strong, and its portfolio continues to demonstrate good resilience despite the uncertainty caused by the COVID-19 pandemic. During the pandemic, PHP has been actively working with the NHS, HSE in the Republic of Ireland, and its GP tenants to help them better utilise the Group's properties for deployment in the front line of the current global health crisis. Highlights of the Group's unaudited results for the six months ended 30 June 2020 are outlined below: Earnings and dividend growth · Adjusted EPRA earnings per share increased by 7.1% to 3.0 pence (30 June 2019: 2.8 pence) · Average uplift of 2.2% per annum on rent reviews completed in the period, continuing the positive trend in rental growth (FY 2019: 1.9%; FY 2018: 1.4%) · Additional annualised rental income of £0.9 million or 0.7%, on a like-for-like basis, from rent reviews and asset management projects (FY 2019: £1.9 million or 1.5%; FY 2018: £1.3 million or 1.8%) · Contracted annualised rent roll increased by 4.4% to £133.3 million (31 December 2019: £127.7 million) · Portfolio of 22 purpose-built medical centres acquired for £54 million with good asset management opportunities · Four forward funded developments acquired in the period with a net development cost of £27 million at Arklow, Ireland, Banagher, Ireland, Epsom, Surrey and Llanbradach, Wales · Two quarterly dividends totalling 2.95p per share distributed in the period and third quarterly dividend of 1.475p per share declared, payable on 21 August 2020, equivalent to 5.9p on an annualised basis and a 5.4% increase over the 2019 dividend per share representing the Company's 24th consecutive year of dividend growth · The Company intends to make a further dividend payment in November 2020 and maintain its strategy of paying a progressive dividend, in equal quarterly instalments, covered by underlying earnings in each financial year Net asset value growth · Adjusted EPRA Net Asset Value increased by 1.1% to 109.1 pence (31 December 2019: 107.9 pence) · Property portfolio at 30 June 2020 valued at £2.514 billion (31 December 2019: £2.347 billion) reflecting a net initial yield of 4.86% (31 December 2019: 4.86%). A revaluation surplus was generated in the period of £10.5 million (30 June 2019: £17.7 million), representing growth of 0.4% (30 June 2019: 0.9%) · Portfolio in Ireland now comprising of 17 assets, valued at £194 million (€214 million), including two forward funded developments currently under construction which, if valued as complete, increases the total asset value to approximately £211 million (€233 million) in Ireland · The Group completed the forward funded developments at Athy, Bray and Rialto in Ireland during the period and has six developments currently on site with a net development cost of £41 million. All sites in the UK and Ireland remain open and construction continues to progress · Strong pipeline of targeted acquisitions and asset management projects with a value of approximately £128 million, of which £44 million is currently under offer · Progression of asset management projects with 12 either completed or currently on-site, investing £4.1 million, creating additional rental income £0.12 million per annum and extending the weighted average unexpired lease term (WAULT) back to 21 years · The Group has a strong pipeline of over 80 incremental asset management projects which have either been approved by the Board or are in advanced negotiations. The pipeline of projects equates to investing approximately £36 million in 2020 and 2021 generating £1.1 million of additional income and extending the WAULT on those leases back to 21 years · Only £3.0 million or 2.3% of annualised rent roll expiring in the next three years of which £2.6 million is subject to either a planned asset management initiative or terms having been agreed to renew the lease · The portfolio's metrics continue to reflect the secure, long-term and predictable income stream with occupancy at 99.5% (31 December 2019: 99.5%) and a WAULT of 12.5 years (31 December 2019: 12.8 years) Financing · At 30 June 2020 the Group's net debt stood at £1,150.3 million (31 December 2019: £1,067.3 million) and the Loan to Value ("LTV") ratio was 45.8% (31 December 2019: 44.2%). · After capital commitments the Group has undrawn loan facilities and cash on deposit totalling £266 million (31 December 2019: £356.6 million) providing significant liquidity headroom. Cash on deposit totals £64.0 million · Significant headroom in LTV covenants with the Group's portfolio needing to fall in value by around £1.0 billion or 40% for the Group's borrowing arrangements to come under risk of being breached · The Group's income would need to fall by approximately £76 million or 57% for the interest cover covenants in the Group's borrowing arrangements to come under risk of being breached · Following the proposed Placing, the Company has lowered the upper range for its LTV ratio from 55% to 50% Rental collection · Of PHP's contracted rental income, 90% is paid either directly or indirectly by the UK and Irish governments, with the balance mainly coming from pharmacies co-located at our properties · Rental collections continue to remain robust and as at 8 July 2020 91% and 88% had been collected in the UK and Ireland respectively for the third quarter of 2020 and ahead of the collection rates experienced for the second quarter of the year which now stand at over 99% for both countries. The balance of rent due for the third quarter of 2020 is expected to be received within the coming fortnight · The Group has allowed £1.1 million of quarterly rents, predominantly pharmacies, to be paid by monthly instalments, given short-term rent deferrals of £0.3 million and concessions of £0.2 million
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