Income: Lettings fund dividend growth

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Residential sales have declined in the past year or so, but those property services providers with strong lettings businesses can offset this downturn. One of these companies is in the top 70 AIM performers during 2023 and it still offers a yield of 4%.

The dividend is covered 1.8 times by forecast earnings. Even more importantly, the dividend could grow at around 7%/year.

There are two-thirds of revenues that are recurring, and forecasts have remained steady. Lettings revenues were 12% ahead in the first half and they are set to continue to grow. The ONS UK annual private rental index...

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