Supermarket Income declares dividend, suspends scrip alternative

4th Apr 2024 08:10

(Sharecast News) - Grocery property investor Supermarket Income REIT announced an interim dividend for the quarter ended 31 March on Thursday, of 1.515p per share.

The FTSE 250 real estate investment trust said shareholders registered on 12 April would be paid the dividend on or around 16 May as a property income distribution related to the company's tax-exempt property rental business.

Its board said it had decided not to offer the scrip dividend alternative for the period, which would have allowed shareholders to receive new shares instead of cash.

The board, noting the current trading of the company's shares at a discount to the published EPRA net tangible assets per share, said it had suspended the scrip dividend alternative for the third quarterly dividend.

As a result, all entitled shareholders would receive the dividend in cash.

Supermarket Income REIT said it would give future consideration to the possibility of reinstating the scrip dividend alternative for upcoming quarterly dividends.

At 0816 BST, shares in Supermarket Income REIT were up 0.09% at 76.27p.

Reporting by Josh White for Sharecast.com.