Supermarket Income REIT announced its consolidated results for the year ended 30 June 2019. EPRA EPS increased 31.6% to 5.0p and total shareholder return stood at 8.0%. Dividends totalled 5.6p per ordinary share and average rental increases were 3.2%, in line with UK RPI inflation. Investment properties were independently valued at £368.2m on 30 June 2019. The company acquired two accretive omnichannel supermarket assets at an aggregate purchase price of £96.7m.
The company raised £56.3m total equity in the year. Separately, a £47.6m debt facility and an uncommitted £40m accordion option were provided by Deka Bank, fixed at 1.9% for the five-year term of the facility. The company has increased the dividend target for FY 2020 to 5.80p per share, in line with UK RPI inflation.
Nick Hewson, Supermarket Income REIT’s Chairman, commented: “The contracted RPI rental growth in all of our leases also means that we are able to announce our intention to again raise our dividend target from October 2019 by RPI. We are committed to providing investors stable, long-term, inflation-protected income, supported by a compelling real estate opportunity.”