- GCP Student announced its maiden interim dividend after reporting a rise in net asset value per share as the value of its portfolio edged higher.

Estimated earnings (EPRA) net asset value per ordinary share was 168.55 pence per ordinary share at the 30 September 2019, representing a quarterly increase of 2.8%.

At 30 September 2019, the valuation of the company's portfolio was £962.2m, of which 85% was located in and around London, representing a like-for-like increase over the quarter of 2.5%.

The portfolio comprised of eleven assets with about 4,100 beds, including one asset which was expected to complete construction for the 2020 to 2021 academic year. The net initial yield on the operational portfolio was 4.49%.

'The company's operational portfolio is fully occupied with respect to the 2019/20 academic year, with student rental growth of 4.4% year-on-year,' GCP Student said.

The company announced a first interim dividend of 1.57p per ordinary share.

At 8:38am: [LON:DIGS] GCP Student Living Plc share price was 0p at 177.2p

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