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LAND - Land Securities News Story

605.8p 4.8  0.8%

Last Trade - 29/05/20

Large Cap
Market Cap £4.49bn
Enterprise Value £8.48bn
Revenue £741.0m
Position in Universe 161st / 1825

Land Securities gets 65% of rent in March quarter, scraps dividend

Thu 2nd April, 2020 8:17am
April 2 (Reuters) - Land Securities  LAND.L  has received
only two-thirds of the rent due last month from its tenants and
has cancelled its third interim dividend, the British property
developer said on Thursday.
    The company, which established a 80 million pounds ($99.17
million) rent relief fund, said 65% of rent due on March 25 was
paid by the end of the month compared with 96% paid last year.*:nRSB5055Ia
    "During March, we saw a rapid drop off in visitor numbers to
our retail and leisure destinations and many of our office
customers invoked working from home protocols for their
employees," it said.

($1 = 0.8067 pounds)

 (Reporting by Samantha Machado in Bengaluru; Editing by Bernard
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