Hibernia raises dividend but warns on business sentiment

Kevin Nowlan

Irish property group Hibernia REIT has hiked its dividend for the first half of its financial year by 16.7% to 1.75 cents per share (1.5p) as its rent roll rose on the back of new lettings and rent reviews.

The group’s portfolio rose in value by 0.6% to €1.4bn, while annual contracted rent rose by 7.6% to €62m during the period from March to the end of September. But, the total property return for the period of 2.4% underperformed the MSCI Ireland Property Index’s 3.1% return. 

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