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

Revising Dividend Payments: LABS Plans for Sustainable Growth Amid Economic Challenges

LABS, a £284m property fund, has announced a significant reduction in dividends for 2023. The payment per share will drop to 2p from 3p for the second half of the year. Despite facing challenges such as economic uncertainty, occupiers delaying rental decisions, and high interest rates, the fund reported good progress during the 12-month period.

The decision to cut dividends was made to ensure they were covered by earnings and could grow sustainably in the future. By reducing dividends, LABS aims to continue delivering on its objectives and position itself for future growth. The fund acknowledges that this was a difficult decision but one that was necessary to align with its strategy and provide additional financial flexibility.

Despite these challenges, LABS remains focused on navigating the current market conditions and optimizing its portfolio to maintain a strong financial position. With the revised dividend payments, the fund is confident in its ability to adapt to challenges and capitalize on opportunities in the life sciences real estate sector.

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