Most UK REITs increase dividend payments YOY

Most U.K.-based publicly traded real estate investment trusts increased dividend payments year over year in 2022, according to an S&P Global Market Intelligence analysis.

The most recent dividend paid by 34 of the 43 publicly traded REITs analyzed as of Aug. 9 was higher than a year earlier, while another five had made payments in line with 2021.

Shaftesbury's dividend up 100% YOY

Shaftesbury PLC's dividend grew by the largest amount year over year, with its 4.8 pence-per-share payout announced on May 24 double the 2.4 pence per share paid a year earlier.

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British Land Co. PLC followed with a 74.7% year over year. It announced an 11.6 pence-per-share dividend on May 18 for the second half of its fiscal year ended March 31, 2022.

Unite Group PLC was in the third spot, announcing an 11 pence-per-share dividend on July 27, 2022, up 69.2% year over year.

Alternative Income REIT PLC was the only REIT in the analysis whose most recent payment was lower than a year earlier. This was because it paid a larger-than-usual dividend for the fourth quarter of its fiscal year ended June 30, 2021, to compensate for smaller payments made earlier in the year due to COVID-19 uncertainty. Dividend payments made for the REIT's most-recent fiscal year overall are 7% higher at 5.5 pence per share.

Capital & Regional to resume dividend

Two retail REITs in the analysis — Capital & Regional PLC and Alina Holdings PLC — were still suspending dividend payments as of Aug. 9.

In the REIT's fourth-quarter 2021 earnings release in March, Capital & Regional PLC said it plans to reinstate its dividend payment in its upcoming earnings release on Aug. 12, 2022. The payment will be in line with the REIT's previous dividend policy to distribute at least 90% of the company's European Public Real Estate Association earnings.