Revised Title: Life Science Reit Reduces Dividend Due to Economic Uncertainties Impacting Rollout

Life Science Reit (LABS) has made a significant announcement about its dividend payments for 2023. The payment per share has been reduced to 2p from 3p for the second half of the year. The £284m property fund highlighted the challenges it faced during the past year, including economic uncertainty, occupiers delaying rental decisions, and high interest rates. To maintain financial stability, LABS decided to cut dividends to ensure they were covered by earnings and could grow sustainably in the future.

Despite these challenges, LABS reported good progress during the 12-month period and emphasized the importance of rebasing dividends to maintain financial stability. The fund acknowledged that this was a difficult decision but one that was necessary to align with its strategy and provide additional financial flexibility. By reducing dividends, LABS aims to continue delivering on its objectives and position itself for future growth.

Overall, LABS remains focused on navigating the current market conditions and optimizing its portfolio to maintain a strong financial position. With the revised dividend payments, the fund is confident in its ability to adapt to challenges and capitalize on opportunities in the life sciences real estate sector.

In conclusion, Life Science Reit (LABS) has announced a significant reduction in dividends for 2023 due to economic uncertainty, occupiers delaying rental decisions, and high interest rates. Despite these challenges, LABS reported good progress during the 12-month period and emphasized the importance of rebasing dividends to maintain financial stability. The fund acknowledged that this was a difficult decision but one that was necessary to align with its strategy and provide additional financial flexibility. By reducing dividends, LABS aims to continue delivering on its objectives and position itself for future growth.

By Samantha Johnson

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