tjh290633 wrote:Note that it is an ordinary dividend, not a PID.
INTERIM DIVIDEND OF 7.4 PENCE PER SHARE
Consistent with its previous guidance that the interim dividend would normally be set at one-third of the previous year’s total dividend, the Board has declared an increase in the interim dividend of 0.5 pence per share to 7.4 pence (H1 2020: 6.9 pence), a rise of 7.2 per cent. This will be paid as an ordinary dividend on 24 September 2021 to shareholders on the register at the close of business on 13 August 2021. The Board will offer a scrip dividend option for the 2021 interim dividend, allowing shareholders to choose whether to receive the dividend in cash or new shares. 39 per cent of the 2020 final dividend was paid in new shares, equating to £66 million of cash retained on the balance sheet and 7.2 million new shares being issued.
Also note that this is SEGRO's usual pattern: the interim is an ordinary dividend, the final a PID. They can deviate from that pattern, but haven't done so since 2012 (see
https://www.segro.com/investors/dividen ... nd-history). Presumably the ratio of their earnings from their property rental business (which get the REIT tax treatment) to their other earnings is a reasonably close match to the very roughly 2:1 ratio of their final dividends to their interim dividends.
Gengulphus