Student landlord Unite axes dividend, shares fall
Shares in student landlord Unite fell 13 percent on Wednesday after it canned a full-year dividend to push cash into development, as a jobless economic rebound underpins a rise in UK student numbers.
Unite edged back into the black in the year to Dec. 31, booking recurring profits of 600,000 pounds ($893,800), against a loss of 5.8 million pounds in 2008, but roiled investors by withholding a payout so it could beef up construction and pursue joint ventures with cash-strapped universities …