Net asset value per share at Rugby Estates dropped 8.1% to 587p, as the group continued to shed its property portfolio and return proceeds to shareholders.
Cash payments totalling £4.6m were made to shareholders on 18 August. £45.4m has been returned to them in total since 31 January 2009.
During the half year to 31 July, Rugby Estates dropped into the red, recording a £640,000 loss, compared with a pre-tax profit of £2.38m in the same period in 2010.
The firm sold sites in Staines, Stratford and Harlow during the period, generating £3.8m.
Chairman David Tye said more cash to shareholders is planned.
“We are actively continuing our sales programme with the timing of disposals being driven by circumstances of each individual property.
The company will continue to focus on its Rugby Asset Management division, and is in negotiations to establish a fund for acquiring three-star hotels.
joanna.bourke@estatesgazette.com
