Hammerson lifts dividend after keeping occupancy levels high

29th Jul 2013 08:07

Hammerson hiked its interim dividend after it kept it occupancy levels and rental income growth above target.The shopping centre property group said its underlying net rental income grew by 2.5% in the first half compared with 2.1% growth in 2012. It aims for growth in excess of 2% each year.Occupancy at the end of June for its properties was 97.4% - ahead of its target of 97% and despite difficult market conditions at French shopping centres where footfall was down 5.8%.Adjusted net asset value rose to £5.51 at the end of June from £5.42 at the end of 2012.Its dividend has been lifted to 8.3p from 7.7p. Chief executive David Atkins said: "While household budgets in the UK and France remain under pressure there are encouraging signs of improvements in macro-economic conditions in the UK. Our winning venues remain in demand from consumers and retailers. This combined with our management actions allows us to maintain high occupancy, secure new tenants on attractive terms and consistently grow rental income."Shares in Hammerson were 3p firmer at 523.5p at 08.24 on Monday.