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Picton Property Income hikes quarterly dividend
(Sharecast News) - Picton Property Income declared a 5.7% increase in its dividend on Wednesday, with the interim payment for 1 January to 31 March to be 0.925p per share, up from 0.875p per share for the three months ended 31 December. The London-listed firm said the dividend increase reflected recent portfolio activity, and the subsequent repayment of the company's floating rate debt.
Picton said it intended to maintain a fully-covered dividend at a higher level.
The ex-dividend date was set as 9 May, with a record date of 10 May and a payment date of 31 May.
Picton said the dividend would be designated as a property income distribution (PID).
At 1105 BST, shares in Picton Property Income were up 0.31% at 66.51p.
Reporting by Josh White for Sharecast.com.
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