NewRiver delivers confident update​

NewRiver REIT has reported it remains confident for the final quarter of its financial year in its latest trading update to the market.

The group’s third quarter dividend rose more than 5%, and the dividend for the financial year to date is up by more than 9% to 15p a share.

The REIT, which joined the FTSE 250 index in December, runs shopping centres across the UK, also reportedn high occupancy and strong trading for its tenants.

The REIT has an occupancy level of 97% with payment received for 99.3% of rent demanded in the third quarter.

David Lockhart, chief executive of NewRiver, said: “With the convenience-led profile of its portfolio, affordable rents, conservative balance sheet and risk controlled development pipeline, our proven business model is well equipped to continue to deliver secure and sustainable cash returns to our shareholders.

“Against a backdrop of continued macro uncertainty, we remain focused on generating sustainable income returns from our well placed convenience-led portfolio.”

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