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: £27.29M
Payout Frequency: Semi-Annual

Next Cardiff Property Dividend

Cardiff Property next goes ex-dividend on 21/05/2026. This will be the Interim dividend for 2026.

The dividend per share amount is 10.0000p (GBP) and the payment date is 25/06/2026.

Key dividend details

Sustainability and cover

Profitability: H1 profit before tax £0.73m (slightly lower YoY £0.76m); H1 EPS 57.28p comfortably covers the 10.0p interim.
Cash and liquidity: Cash £10.5m and term deposits £4.35m at 31 Mar 2026; no debt (nil gearing). H1 operating cash flow £0.32m readily covers the proposed interim (~£0.10m).
Earnings mix: Material contribution from interest income (£0.31m), reflecting high cash balances. Rental income (ex-JV) grew to £0.38m in H1; JV share of revenue £0.30m.
JV cash potential: No JV dividend received in H1 (vs £1.5m prior year), but post-period JV asset sale (The Priory) for £6.2m boosts Campmoss liquidity, potentially supporting future distributions.
Balance sheet strength: Net assets £30.68m, NAV per share £30.92; stability supports ongoing dividend capacity.

Dividend growth trajectory and policy signals

The +33% uplift in the interim signals confidence relative to FY2025’s total 27.5p. If the final dividend were maintained at last year’s level, total FY payout would rise; however, the final is not yet declared.
Share buybacks (12,220 shares in H1; ~£319k spent) and use of treasury shares reduce the dividend outflow and support per-share growth over time.

Capital allocation and structural factors

Buybacks/treasury: Ongoing repurchases, with some shares held in treasury; supportive of per-share metrics and dividend affordability.
Asset recycling at JV: Post-period disposal of The Priory (£6.2m) increases JV cash, which may enable future JV dividends, though timing/quantum remain at the JV’s discretion.
No leverage: Nil gearing lowers financial risk and supports dividend resilience through cycles.
No M&A/demergers/share consolidations disclosed; a Relationship Agreement with the controlling shareholder is noted but does not change dividend mechanics.

Risks and flags to monitor

Interest rate path: Management notes potential rate increases vs prior expectations of cuts. Higher rates could pressure property valuations/tenant demand, while deposit interest currently supports earnings; a future rate decline would reduce interest income.
JV distribution variability: Absence of H1 JV dividend (vs strong prior-year contribution) highlights reliance on discretionary JV payouts; the recent JV sale improves capacity but distributions are not assured.
Planning and development risk: Multiple schemes face protracted and uncertain planning processes, affecting timing of value realisation and potential cash inflows.
Market conditions: Thames Valley commercial market described as subdued; residential apartment values under pressure. Letting progress and RPI-linked rent uplifts are positives but should be watched.
Small-cap concentration: Portfolio concentrated in a specific region and relatively small scale can amplify earnings and valuation volatility.

Dividends Used in Calculation:

Ex-Dividend Date	Payment Date	Type	Amount	Currency
15/01/2026	30/01/2026	Final	20.0000p	GBX
21/05/2026	25/06/2026	Interim	10.0000p	GBX

Total (Annual Dividends Per Share): 30.00p

Dividend Yield = Annual Dividends Per Share (30.00p) ÷ Share Price (2630p) = 1.14%

Ex Dividend Date	Payment Date	Type	Amount	Currency
21/05/2026	25/06/2026	Interim	10.0000p	GBX
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

Number of Shares:

Payment	Paid	Amount
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