Schroder REIT dividends up 20% as NAV falls

NAV fell to £366m

Schroder Real Estate Investment trust has reported a drop in net asset value and an increase in dividends in the six months to the end of September.

The interim report showed the trust's NAV fell to £366m, a price per share of 74.8p, compared to a NAV of £372.2m and a price per share of 75.8p at the end of March. Dividends paid during the period increased 20% to £7.8m, or 1.60p per share, reflecting dividend cover of 110% based on post-tax earnings Positive NAV total return performance of 0.8%, reflects a strong income return from the underlying portfolio of 2.8% vs. 1.9% for the MSCI Benchmark index. Energy crisis boosts global dividends to record Q3 results Nick Montgomery, fund manager for the trust, said: "Whilst a risin...