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LONDON (Alliance News) - Supermarket Income REIT PLC said on Tuesday it achieved its IPO target of a dividend of 5.5 pence per share for its maiden financial year since listing on the London Main Market.
The trust, which focuses on investing in supermarket real estate assets, reported a net asset value per share of 96 pence as at June 30, with total shareholder return for the period standing at 8.0%.
Supermarket Income's portfolio of four assets as at the end of June was valued at GBP264.9 million, reflecting an increase of 4.1% from the aggregate price. The portfolio is currently generating an annual passing rent roll of GBP13.7 million with a weighted average unexpired lease term of 19 years
Post-period, Supermarket Income acquired a sixth supermarket, a Morrisons store in Sheffield for GBP51.7 million, and the trust has targeted a dividend of 5.63 pence per share for its current financial year.
"We have rapidly built our portfolio of supermarket property assets, precisely in line with the business plan outlined at IPO and have successfully delivered our 5.5 pence per ordinary share dividend target," said Chairman Nick Hewson.
"Our high-quality portfolio produces attractive inflation-linked income for shareholders together with the potential for long term capital returns. Supermarket Income REIT is committed to providing investors with stable, long-term, inflation-protected income, supported by a compelling real estate and pricing opportunity," Hewson added.
Shares in Supermarket Income REIT were down 0.4% at 101.64 pence on Tuesday.