Whilst our social and environmental values drive everything that we do, we are also unashamedly a profit-making business. In fact, making a profit is an essential element of our model. Paying a dividend regularly and managing our properties so as to increase the long-term value of our shareholders’ investment is necessary to attract the capital we need to put our principles into practice. In addition, by making a profit we have the flexibility and resources to expand our activities, to invest in environmental improvements and to try out new ideas, without being tied to the agendas of grant-giving bodies or other donors.
We also encourage our shareholders to use their share of the profits creatively – we have a long-standing dividend waiver scheme offering shareholders the opportunity to give their dividend back to the company to invest in new projects and to provide grants to tenants who are starting up or facing short-term funding difficulties. This year the dividend waiver fund is being used to support development of the international Ethical Property family and the Ethical Property Foundation, in addition to the £15,000 earmarked for grants to tenants.
More detailed information regarding our financial performance can be found in our Annual Reports.