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Revised Title: Life Science Reit Reduces Dividend Due to Economic Uncertainties Impacting Rollout

Life Science Reit (LABS) has recently announced a significant reduction in dividends for 2023, with the payment per share dropping to 2p from 3p for the second half of the year. Despite facing challenges due to economic uncertainty, occupiers delaying rental decisions, and high interest rates, LABS reported good progress during the 12-month period.

In its annual results for the year ending on December 31, the £284m property fund emphasized the importance of rebasing the dividends to maintain financial stability. This was a difficult decision but one that was necessary to align with its strategy and provide additional financial flexibility. By reducing dividends, LABS aims to continue delivering on its objectives and position itself for future growth.

The fund acknowledged that it faced several challenges during the year, including delays in rental decisions from occupiers and high interest rates. However, it remained focused on optimizing its portfolio and navigating market conditions to maintain a strong financial position. With the revised dividend payments, LABS is confident in its ability to adapt to challenges and capitalize on opportunities in the life sciences real estate sector.

Overall, LABS remains committed to delivering sustainable growth while maintaining financial stability. The decision to reduce dividends was a strategic move that will enable the fund to focus on long-term growth objectives while ensuring that it remains financially secure in uncertain market conditions.

By Samantha Jones

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