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Primary Healthcare Properties delivers 10.5% NAV uplift – Primary Healthcare Properties (PHP) has published its results for the year ended 31 December 2017.
Highlights were:
Harry Hyman, Managing Director of PHP, commented: “I am delighted to report that PHP once again increased its total dividend, its 21st successive year of dividend growth. Increasing our income and dividends is key to our strategy as a modern healthcare REIT. Importantly, we have continued our progressive dividend policy into 2018 by increasing the first quarterly payment, which on an annualised basis reflects a return of 5.4p per share. PHP is providing capital for the modernisation of the primary healthcare estate both in the UK and Ireland. Our well-financed and disciplined approach to investment and active asset management is delivering for shareholders. This is reflected in the strong performance of all of key indicators across the Company. PHP is very active in its marketplace and has a strong targeted pipeline that meets our criteria. This bodes well for 2018 and beyond. We look forward to the future with confidence.”
Talking about PHP’s asset management initiatives – things like extending and refurbishing buildings – Alun Jones, the chairman, said “We continue to invest time and resource to initiate quality asset management projects and the Group has completed four during the year, with another five currently on site. Encouragingly, a further seven more projects have been approved and are due to commence in 2018. In addition, a strong pipeline of 16 potential asset management projects has been identified and these will be progressed during 2018. We devote considerable time to discussing our tenants’ requirements and identifying new opportunities.”
PHP : Primary Healthcare Properties delivers 10.5% NAV uplift
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