19 May 2021 | 09:45am
StockMarketWire.com - Property investor Regional REIT upped its first-quarter dividend by 7% after notching higher rent collections.
The company declared a dividend for the three months through March of 1.6p per share, up from 1.5p year-on-year.
Regional REIT said it completed a number of lease renewals during the quarter, achieving rental uplifts of 6.4% versus the prior rent level.
At 14 May, collection for first-quarter rent due had increased to 96.1% from 90.4%, as previously announced on the 21 April.
'The oompany's asset management team continues to actively engage with its highly diversified roster of tenants to ensure the maintenance of strong quarterly rent collections,' Regional REIT said.