Over the past few years the Group has maintained an enviable record of collecting 100% of its rent. Provided this remains the case and in the absence of any unforeseen circumstances, the Board has announced that it is targeting a dividend of no less than 5.6pps for the year ending 30 June 2026. The resetting of this dividend target, which is lower than the previous year, is entirely due to increase in financing costs of the new facilities.

The new target for AIRE is a yield of around 7.75% on current buying price, so although a cut, the share remains in the Watch List.