Life Science Reit reduces dividend payment due to economic challenges delaying rollout

Life Science Reit (LABS) has announced that it will halve its dividends for 2023, reducing the second payment of the year from 3p to 1p per share. Despite reporting good progress in its annual results for the year ending on 31 December, the £284m specialist property fund faced challenges such as economic uncertainty, occupiers delaying rental decisions, and high interest rates.

In order to ensure its earnings were covered and could sustainably grow from this level, LABS had to make a difficult decision to rebase the dividend. By cutting dividends, the company aims to have additional financial flexibility to effectively deliver on its strategy.

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