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

In the face of economic uncertainty and challenges such as occupiers delaying rental decisions and high interest rates, Life Science Reit (LABS) has made the decision to halve its dividends for 2023. The £284m specialist property fund had reported good progress in its annual results for the year ending on 31 December, but still faced significant obstacles.

In order to ensure that it was covered by earnings and could grow sustainably from this level, LABS had no choice but to rebase the dividend. By cutting dividends from 3p to 1p per share, the company aims to have additional financial flexibility to deliver on its strategy effectively.

The reduction in dividends comes after a period of strong growth for LABS, which saw profits increase by 7% in 2022. Despite this progress, the company still faces challenges such as rising costs and changes in market conditions that could impact its future performance.

Despite these challenges, LABS remains committed to delivering value for its shareholders and continuing to grow its business over the long term. The company’s focus on sustainable growth and responsible investing has helped it weather previous economic downturns and position itself for success in today’s challenging market environment.

By Sophia Gonzalez

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