StockMarketWire.com - Student accommodate investor GCP Student kept its annual dividend steady but warned its rental income in the current financial year would be hit by a reduction in revenue owing to Covid-19 disruptions.

The company declared a fourth interim dividend of 1.42p per share, bringing the full-year total to 6.15p.

Its estimated EPRA net asset value per ordinary share at 30 June was 171.78p, up 0.1% for the fourth quarter and up 3.8% for the full year.

Bookings for the forthcoming 2020/21 academic year were currently 55%, including in respect of the Scape Brighton 555-bed development asset, which had not yet opened to students.

The average level of bookings at the same time of the year over the past five academic years was 74%.

'The company's rental income for the financial year ended 30 June 2021 will be adversely impacted by the reduction to revenues received in connection with the 2019/20 academic year,' GCP said.

'Further, in the event that the disruption caused by the Covid-19 pandemic continues into the 2020/21 academic year, the company's rental income will be adversely impacted.'

'The scale of this impact will depend on measures taken by global authorities, including the UK government, the ongoing approach taken by higher education institutions as regards in-person learning and how the situation develops and over what timescale.'


At 9:40am: [LON:DIGS] Gcp Student Living PLC share price was +1.8p at 123.4p



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