Investor Schroder improvesits net asset value by 5.9% in 12 months

CAPE TOWN – Schroder European Real Estate Investment Trust, which invests in European cities, said yesterday that its net asset value (NAV) had improved 2.4percent over the quarter to December 31 and 5.9percent over a 12-month period.

NAV came to 184 million (R3.14billion) or 137.6 euro cents per share as at December 31.

A maiden interim dividend for the year ending September 30, 2020, of 1.85 euro cents per share is expected.

“We expect dividend cover to reduce while we undertake asset management activity across the portfolio.

“These initiatives are expected to improve the longer-term income profile of the company and its dividend cover,” said Jeff O’Dwyer, Schroder Real Estate Investment Management’s director.