21 July 2016
At Land Securities’ Annual General Meeting today, Chief Executive Robert Noel will give a brief summary of the last financial year, and will also make the following statement:
“We expect business uncertainty to persist until there is more clarity on both the timing and terms of the UK’s exit from the EU. This process may take some time. Demand from occupiers is likely to be subdued until confidence returns and this may have an impact on rental values.
“Land Securities’ portfolio of quality office properties and retail destinations, together with our very low leverage, high levels of occupancy and long lease terms by historical standards, put us in an excellent position. With our strong cash flows, we have the confidence to propose a 9.9% increase in the total dividend for the year and our significant undrawn banking facilities leave us well prepared for future asset purchases.”