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Helical cut its final dividend by a fifth to conserve cash after profit slipped in the year, as the real estate company recorded a loss on the sale of its properties.
The final dividend proposed was 6.00p per share, down 20% from 7.50p, taking the total dividend for the year down 13% from last year,
For the year ended 31 March, pre-tax profit fell to £43m from £43.4m on-year while net rental income rose 13% to £24.6m.
The company reported earnings (EPRA) per share of 7.6p compared with loss of 8.4p.
The net gain on sale and revaluation of investment properties was £45.5m, down from £60.6m, and the company made a loss on sale of investment properties of £1.3m, compared with a profit of £15m last year.
As of the March quarter, 92% of quarter rents collected, with a further 3% being paid in instalments, however, the letting progress on Kaleidoscope, London EC1 and Trinity, Manchester had slowed, the company said.
At 8:53am: (LON:HLCL) Helical Bar PLC share price was +4p at 394p