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Hammerson hammered for failing to reward investors with payout
Evening Standard
|March 09, 2023
A WAVE of selling hit Hammerson shares today after the Brent Cross shopping centre business disappointed investors by not including a dividend with 2022 results.
The company, whose portfolio also includes Birmingham’s Bullring and Cabot Circus in Bristol, slumped 8% or 2.4p to 26.9p as the biggest faller in the FTSE 250 index.
Hammerson said footfall recovered to 90% of 2019 levels as it also made progress bolstering the balance sheet with £628 million of disposals to focus the business on key city centre locations. Chief executive Rita-Rose Gagné said Hammerson was now a “better, more agile, and resilient business” as adjusted earnings rose 60% to £105 million.
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