Cardiff Property
Website:
Cardiff Property
Index:
FTSE Fledgling
EPIC: CDFF
Supersector:
Real Estate
Sector:
Real Estate Investment and Services
Subsector:
Real Estate Holding and Development
Market Cap:
£26.79M
Payout Frequency: Semi-Annual
Cardiff Property Dividend Analysis and Summary
Key Dividend Details
- Final dividend: 20.0p per share (FY24: 17.0p)
- Total FY25 dividend: 27.5p per share (+17.0% YoY; FY24: 23.5p)
- Ex-dividend date: 15/01/2026
- Record date: 16/01/2026
- Payment date: 30/01/2026
- Earnings per share (EPS): 132.9p (FY24: 102.76p)
- Dividend cover: c. 4.8–4.9x (132.9p EPS vs 27.5p DPS)
- Cash and deposits: c. £14.5m (cash £10.5m + term deposits £4.0m); gearing: Nil
- Estimated cash cost of FY25 dividend: c. £277k (interim £76k + proposed final £201k)
Analysis: Sustainability and Growth
- Growth trajectory: DPS up 17% to 27.5p reflects strong capital return intent, aided by higher earnings and a smaller share count from buybacks.
- Coverage and cash: Very robust cover (~4.9x) and substantial liquidity with no debt make the dividend highly affordable. The cash outlay is modest relative to earnings and cash on hand.
- Earnings support: FY25 profit after tax rose to £1.36m; interest income was £685k and share of JV profit £380k. The Company also received £2.5m of dividends from Campmoss, materially strengthening cash generation.
- Capital allocation: Ongoing share buybacks (£0.85m) shrink the share base, supporting per-share dividend growth while preserving balance sheet strength. Proposed renewal of buyback authority signals continued flexibility.
- Outlook for sustainability: Even excluding JV cash dividends, current earnings and liquidity appear more than sufficient to sustain the present DPS. However, the dividend’s strongest underpinning is the combination of JV distributions, interest income and recurring rental/management fees.
Structural or Policy Factors
- Share buybacks: 33,356 shares purchased and cancelled in FY25; authority to be renewed at the AGM on 15/01/2026. This supports per-share dividend growth.
- JV and asset activity: Campmoss (47.62% owned) has exchanged a conditional contract post year-end to sell The Priory, Burnham (care home). If completed, this could bolster Campmoss cash and future JV distributions to Cardiff, indirectly supporting dividends.
- No demergers, M&A or share consolidations disclosed.
Risks/Flags to Dividend Stability
- Dependence on JV cash flows: The FY25 £2.5m dividend from Campmoss was a major cash source; future distributions may vary with asset disposals, lettings and market conditions.
- Interest income sensitivity: A meaningful portion of earnings is from cash interest (£685k). Lower rates would reduce this buffer, though the DPS would still appear covered at current levels.
- Market and planning risk: Management highlights subdued Thames Valley property markets and protracted, costly planning processes, which can delay developments and influence JV profitability and distribution capacity.
- Concentration/scale: Small absolute revenue base and portfolio concentration increase exposure to tenant, valuation and transaction timing risks.
Read more
Cardiff Property Annual Dividend Yield - 0.94%
Dividends Used in Calculation:
| Ex-Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 16/01/2025 |
31/01/2025 |
Final |
17.00p |
GBX |
| 22/05/2025 |
26/06/2025 |
Interim |
7.50p |
GBX |
Total (Annual Dividends Per Share):
24.50p
Dividend Yield =
Annual Dividends Per Share (24.50p)
÷ Share Price (2610p)
= 0.94%
Cardiff Property Dividend History
| Ex Dividend Date |
Payment Date |
Type |
Amount |
Currency |
| 15/01/2026 |
30/01/2026 |
Final |
20.0000p |
GBX |
| 22/05/2025 |
26/06/2025 |
Interim |
7.50p |
GBX |
| 16/01/2025 |
31/01/2025 |
Final |
17.00p |
GBX |
| 23/05/2024 |
27/06/2024 |
Interim |
6.50p |
GBX |
| 18/01/2024 |
02/02/2024 |
Final |
16.00p |
GBX |
| 25/05/2023 |
29/06/2023 |
Interim |
6.00p |
GBX |
| 19/01/2023 |
03/02/2023 |
Final |
15.00p |
GBX |
| 26/05/2022 |
30/06/2022 |
Interim |
5.50p |
GBX |
| 20/01/2022 |
01/02/2022 |
Final |
13.50p |
GBX |
| 27/05/2021 |
01/07/2021 |
Interim |
5.00p |
GBX |
| 14/01/2021 |
29/01/2021 |
Final |
12.80p |
GBX |
| 28/05/2020 |
02/07/2020 |
Interim |
4.80p |
GBX |
| 23/01/2020 |
14/02/2020 |
Final |
12.50p |
GBX |
| 30/05/2019 |
04/07/2019 |
Interim |
4.60p |
GBX |
| 24/01/2019 |
14/02/2019 |
Final |
12.20p |
GBX |
| 31/05/2018 |
05/07/2018 |
Interim |
4.40p |
GBX |
| 25/01/2018 |
15/02/2018 |
Final |
11.50p |
GBX |
| 01/06/2017 |
06/07/2017 |
Interim |
4.00p |
GBX |
| 26/01/2017 |
16/02/2017 |
Final |
10.40p |
GBX |
| 02/06/2016 |
07/07/2016 |
Interim |
3.60p |
GBX |
| 28/01/2016 |
18/02/2016 |
Final |
10.00p |
GBX |
| 04/06/2015 |
08/07/2015 |
Interim |
3.50p |
GBX |
| 29/01/2015 |
19/02/2015 |
Final |
9.55p |
GBX |
| 04/06/2014 |
04/07/2014 |
Interim |
3.40p |
GBX |
| 22/01/2014 |
13/02/2014 |
Final |
9.25p |
GBX |
| 05/06/2013 |
05/07/2013 |
Interim |
3.30p |
GBX |
| Year |
Interim |
Final |
Currency |
Total |
Change |
| 2024 |
6.500 |
17.000 |
GBX |
23.500 |
6.810 |
| 2023 |
6.000 |
16.000 |
GBX |
22.000 |
7.310 |
| 2022 |
5.500 |
15.000 |
GBX |
20.500 |
10.810 |
| 2021 |
5.000 |
13.500 |
GBX |
18.500 |
5.110 |
| 2020 |
4.800 |
12.800 |
GBX |
17.600 |
2.920 |
| 2019 |
4.600 |
12.500 |
GBX |
17.100 |
3.010 |
| 2018 |
4.400 |
12.200 |
GBX |
16.600 |
7.090 |
| 2017 |
4.000 |
11.500 |
GBX |
15.500 |
10.710 |
| 2016 |
3.600 |
10.400 |
GBX |
14.000 |
3.700 |
| 2015 |
3.500 |
10.000 |
GBX |
13.500 |
4.240 |
| 2014 |
3.400 |
9.550 |
GBX |
12.950 |
3.180 |
| 2013 |
3.300 |
9.250 |
GBX |
12.550 |
|
Cardiff Property Dividend Calculator
Cardiff Property Dividend Growth
| Dividend Growth (1Y) |
17.02%
|
| Dividend CAGR (5Y) |
9.34%
|
| Years of Growth |
12
|
| Payout Ratio |
18.56%
|
| Buyback Yield |
1.99%
|
| Shareholder Yield |
3.01%
|
| P/E Ratio (TTM) | 20.33 |
|---|
| Forward P/E | – |
|---|
| P/FCF | – |
|---|
| Earnings Yield | 5.07% |
|---|
| FCF Yield | – |
|---|
| ROE | 4.45% |
|---|
| ROCE | 3.19% |
|---|
| Profit Margin | 128.11% |
|---|
| Operating Margin | 92.92% |
|---|
| Gross Margin | 79.06% |
|---|