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Northacre gets £13.56m dividend from Lancaster Gate JV
Friday, 21st September 2012
Northacre has received an interim dividend of £13.56m from Lancaster Gate (Hyde Park) - the company's joint venture with Minerva.Northacre says this was the third interim dividend from the project and takes the total received to £17.7m.
Northacre says it is now receiving 50% of the profits under the profit waterfall structure.
The proceeds of the third dividend will be used to repay debt and other outstanding obligations.
At 4:24pm: (LON:NTA) Northacre share price was +5p at 64p
Story provided by StockMarketWire.com
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