Revised Title: Life Science Reit Reduces Dividend Due to Economic Uncertainties Impacting Rollout

LABS, a £284m property fund focused on life sciences real estate, has announced a significant reduction in dividends for 2023. The payment per share will drop from 3p to 2p for the second half of the year, citing economic uncertainty, occupiers delaying rental decisions, and high interest rates as the main challenges faced during the past year. Despite these challenges, LABS reported good progress during the 12-month period and emphasized the importance of rebasing dividends to maintain financial stability.

The decision to cut dividends was made to ensure they were covered by earnings and could grow sustainably in the future. This move is part of LABS’ strategy and provides additional financial flexibility. By reducing dividends, LABS aims to continue delivering on its objectives and position itself for future growth.

Despite facing tough market conditions, LABS remains focused on optimizing its portfolio to maintain a strong financial position. With the revised dividend payments, the fund is confident in its ability to adapt to challenges and capitalize on opportunities in the life sciences real estate sector. Overall, LABS is committed to delivering value for its investors while navigating these challenging times.

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