Supermarket Income REIT Boosts Portfolio Value and Declares Full-Year Dividend

September 18, 2024 12:02 AM PDT | By Team Kalkine Media

Google News:

Supermarket Income REIT Boosts Portfolio Value and Declares Full-Year Dividend — Image source: Shutterstock

Recent News

Itoolab Anygo Launches Auto Catch Pokémon Go Plus+ Feature ‘Go Catcher...

Mocpogo Pokémon Go Spoofer Launches ‘Go Catcher’ – Auto Catch Without...

UK factories report steeper decline in orders for June 2025

Stably introduces stablecoin development, advisory services for instit...

London-listed Supermarket Income REIT PLC (LSE:SUPR) has announced a full-year dividend of 6.12p for its 2025 financial year, reflecting a modest year-on-year increase of 1%. This announcement was made in the context of an audited yearly report released on Wednesday.

Chair Nick Hewson commented on the challenges faced over the past three years due to macroeconomic headwinds, noting that the company has successfully navigated these difficulties while managing to increase the dividend annually. He expressed optimism, stating, “We believe we have now seen the worst of it.” Hewson emphasized the company's commitment to maximizing earnings and continuing to enhance the dividend on a covered basis, highlighting the affordability of rents paid by grocery tenants.

In terms of financial performance, adjusted earnings per share rose by 4.4% year-on-year to 6.1p. The total value of the portfolio increased to £1.78 billion, up from £1.69 billion in the previous year. Additionally, the portfolio’s net initial yield improved to 5.9%, compared to 5.6% in 2023.

Looking forward, Hewson expressed optimism about the improving interest rate environment, which is anticipated to present new opportunities for the company. He noted that the UK grocery market is projected to grow by 5.8% by the end of the calendar year, further supporting a positive outlook.

Supermarket Income REIT remains committed to identifying additional acquisition opportunities, leveraging the favorable conditions in the current market. The strategic focus on grocery tenants positions the company well for sustained growth and stability, contributing to its overall mission of delivering value to stakeholders while navigating the evolving economic landscape.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.