Residential landlord Grainger posts higher rental income and ups dividend

Grainger, the UK’s largest listed residential landlord, on Thursday upped its dividend after first-half rental income climbed.

The rental homes landlord has worked remotely since the outbreak. It has offered virtual viewings to people, and should benefit from the Government’s announcement this week that estate agents can reopen, which saw many report a high volume of calls and new business yesterday.

Rental income at Grainger rose 27% to £37 million in the six months to March, and last month the company collected 94% of rent on time, despite the pandemic.

Grainger, led by Helen Gordon, raised the interim dividend by 6% to 1.83p a share.

Among estate agents to experience a busy day yesterday thanks to the new government guidance for the housing market, was north London firm Philip Alexander.

Alex Clayton, a director at Philip Alexander, said: “We had a huge surge of new letting enquiries, with a really serious approach, such as move in as soon as possible. Meanwhile a couple of aborted sales transactions look to suddenly have come back to life.”

Carter Jonas said it has seen a surge in viewing requests and telephone enquiries.