Segro Final Results

[tjh290633]

https://www.investegate.co.uk/segro-plc ... 00020695F/

http://www.segro.com/~/media/Files/S/Se ... 0FINAL.pdf for the full details.

DIVIDEND INCREASE REFLECTS A STRONG YEAR AND CONFIDENCE FOR THE FUTURE

Under the UK REIT rules, we are required to pay out 90 per cent of UK-sourced, tax-exempt rental profits as a ‘Property Income Distribution’ (PID). Since we also receive income from our properties in Continental Europe, our total dividend should normally exceed this minimum level and we target a pay-out ratio of 85 to 95 per cent of Adjusted profit after tax. We aim to deliver a progressive and sustainable dividend which grows in line with our profitability in order to achieve our goal of being a leading income-focused REIT.

The Board has concluded that it is appropriate to recommend an increase in the final dividend per share of 0.65 pence to 11.35 pence (2016: 10.7 pence, adjusted for the Rights Issue bonus adjustment factor) which will be paid as a PID. The Board’s recommendation is subject to approval by shareholders at the Annual General Meeting, in which event the final dividend will be paid on 3 May 2018 to shareholders on the register at the close of business on 23 March 2018.

The market would appear to approve, up 6.4% at 590.6p as I write.

TJH