Civitas Social Housing - No COVID-19 impact and increased DPS target

The COVID-19 pandemic has thus far had no impact on Civitas Social Housing’s rent collection or financial performance and the portfolio continues to grow and perform as expected. In the three months ended 31 March 2020 (Q420), IFRS NAV per share increased marginally and quarterly dividends continued. As a result of continuing acquisitions and CPI-linked rental growth, the run rate of dividend cover has reached 100% and the target DPS for the current year has been increased by 1.9% to 5.4p/share.