Life Science Reit reduces dividend payment due to economic challenges delaying rollout

Life Science Reit (LABS) has announced that it will halve dividends for 2023, reducing the second payment of the year from 3p to 1p per share. Despite reporting strong progress in its annual results for the year ending on 31 December, LABS faced several challenges, including economic uncertainty, occupiers delaying rental decisions and high interest rates.

The company stated that it had no choice but to make a difficult decision to rebase the dividend in order to ensure it was covered by earnings and could grow sustainably from this level. By cutting dividends, LABS aims to have additional financial flexibility to deliver on its strategy effectively.

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