Belvoir has had to delay a key Annual General Meeting vote on dividend payments due to take place yesterday until a later date.

Blaming the problem on an administrative error, shareholders were unable to approve the Covid-delayed 2020 final dividend of 5.1p per share announced on 12^th April after the item was left off the ‘notice of meeting’ for yesterday’s AGM.

This means shareholders will have to wait for the payment, which was due to take place on 1st June.

During the darkest days of Covid, Belvoir said it was suspending its dividend payments as it access the government furlough and other business support measures.

Payments

But since the market has taken off after the property market was able to re-open early last year, it has both returned the Covid cash and made the decision to reinstate its dividend payment to shareholders.

“Instead, the 2020 Final Dividend will be paid once approved by shareholders at a separate general meeting to be convened as soon as practicably possible,” a company statement says.

A further announcement setting out the timetable for this meeting, together with a new proposed dividend payment date, will be made shortly, the company says.

All resolutions put before the meeting yesterday were duly passed and the admin error was the only black spot for the company following its trading update for the first six months of 2021, covering its 439 offices, six brands and 71,500 properties under management.