Warehouse focused REIT SEGRO has increased its dividend following resilient performance during the first half of the year ending June 30th.
“The impacts of the pandemic are accelerating the adoption of technology, particularly e-commerce, across society and have resulted in a renewed focus by many occupiers on the critical importance of efficient, resilient logistics supply chains. These factors play to the quality of our portfolio and should continue to support and enhance occupier and investor demand for our prime warehouses, both in the UK and, increasingly, on the Continent.”CEO
A beneficiary to the shift to e-commerce SEGRO saw its adjusted pre-tax profits increase by 6.5 percent to £140.4m.
Good performance also enabled it to stick to its dividend payout strategy – increasing its interim dividend by 9.5 percent to 6.9p.
This payout is in line with its normal practice of the interim dividend totalling in at one third of the dividend paid in the previous full-year.
Looking forward it expects to continue to benefit from the rapidly changing landscape with its additional near-term pre-let projects pipeline nearly twice as big as last year.