Supermarket Income REIT (SUPR)

[idpickering]

Board Committee Changes.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that, with effect from 1 July 2023, it has made the following changes to the board's committees:

· Sapna Shah will be appointed as Chair of the Management Engagement Committee

· Nick Hewson will step down from his role as Chair of the Management Engagement Committee but will remain as a member

· To improve the efficiency of the board committees of which all Directors are currently members, excluding Nick Hewson who is not a member of the Audit Committee, the membership of each board committee will be changed to the following:

https://www.investegate.co.uk/announcem ... es/7604395

Ian (No holding).

[idpickering]

Dividend Declaration.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, has today declared an interim dividend in respect of the period from 1 April 2023 to 30 June 2023 of 1.5 pence per ordinary share (the "Fourth Quarterly Dividend").

The Fourth Quarterly Dividend will be paid on or around 4 August 2023 and will comprise a Property Income Distribution ("PID") of 1.3789 pence per share in respect of the Company's tax-exempt property rental business, and an ordinary dividend of 0.1211 pence per share. The ex-dividend date will be 13 July 2023 with a record date of 14 July 2023.

The Company has now declared four quarterly dividends totalling 6.0 pence per ordinary share for the financial year ended 30 June 2023, in line with the Company's full-year dividend target.

As the Company's ordinary shares are currently trading at a discount to the published EPRA Net Tangible Assets per share, the board of directors of the Company (the "Board") believes that it is not in the best interests of shareholders to offer the scrip dividend alternative, under which shareholders would have been able to elect to receive new ordinary shares in lieu of the cash dividend (the "Scrip Dividend Alternative"). The Board has therefore exercised its discretion to suspend the Scrip Dividend Alternative in respect of the Fourth Quarterly Dividend.

All shareholders who are entitled to receive the Fourth Quarterly Dividend will therefore receive it in cash.

The Board will keep under consideration the offer of a scrip dividend alternative in respect of future quarterly dividends.

In accordance with section 838 of the Companies Act 2006, accounts have been prepared in order to support the payment of the interim dividend to the ordinary shareholders of the Company.

https://www.investegate.co.uk/announcem ... on/7615668

Ian.

[idpickering]

RECEIPT OF SECOND TRANCHE OF SAINSBURY'S REVERSION PORTFOLIO PROCEEDS

  

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that, it has as scheduled received £116.9 million in respect of the second tranche of the consideration from the sale of its interest in the Sainsbury's Reversion Portfolio (the "SRP Portfolio"), as previously announced by the Company on 14 March 2023.

The Company will use the second tranche of net proceeds to reduce debt in the near term. Based on the last published portfolio valuation as at 31 December 2022, the Company's LTV will be c.33% following this debt repayment.

https://www.investegate.co.uk/announcem ... ds/7624354

Ian (No holding).

[idpickering]

Notice of Results.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, will announce its full year results for the year ended 30 June 2023 on Wednesday, 20 September 2023.

An in-person presentation for analysts and investors will be held at 8.30 a.m. on the day of the results. The presentation will also be broadcast via a webcast with a Q&A function for those unable to attend.

Those wishing to attend in person or virtually via the webcast should contact FTI Consulting on the details below.

https://www.investegate.co.uk/announcem ... ts/7737692

Ian (No holding, although I've often been tempted).

[idpickering]

DEBT REDUCTION AND REFINANCING UPDATE.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces the completion of a comprehensive debt refinancing exercise.

https://www.investegate.co.uk/announcem ... te/7757079

Ian.

[idpickering]

NOTICE OF INVESTOR MEET COMPANY PRESENTATION.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that Steven Noble and Robert Abraham will provide an investor presentation through the Investor Meet Company platform on Thursday, 21 September 2023 at 11.00am (BST).

The presentation is open to all eligible persons in the UK and questions can be submitted prior to the meeting via your Investor Meet Company dashboard up until 9.00am the day before the meeting or at any time during the presentation.

https://www.investegate.co.uk/announcem ... on/7758059

Ian.

[idpickering]

AUDITED RESULTS FOR THE YEAR ENDED 30 JUNE 2023.

Resilient financial performance with strong income growth

· 30% increase in annualised passing rent to £100.6 million

o 100% occupancy

o 100% of rent collected

o 4.1% average rental uplift

· 26% increase in adjusted earnings to £72.4 million

· FY 2023 dividend of 6 pence per share, target dividend of 6.06 pence per share for FY 2024

https://www.investegate.co.uk/announcem ... 3-/7765947

Ian.

[idpickering]

Dividend Declaration.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, has today declared an interim dividend in respect of the period from 1 July 2023 to 30 September 2023 of 1.515 pence per ordinary share (the "First Quarterly Dividend").

The First Quarterly Dividend will be paid on or around 16 November 2023 as a Property Income Distribution ("PID") in respect of the Company's tax-exempt property rental business to shareholders on the register as of 13 October 2023. The ex-dividend date will be 12 October 2023.

https://www.investegate.co.uk/announcem ... on/7797579

Ian (No holding).

[idpickering]

Result of AGM.

Supermarket Income REIT plc (LSE: SUPR), announces that at the Company's Annual General Meeting ("AGM") held on Thursday, 7 December 2023, all resolutions were passed on a poll and the results of the poll and proxy votes received are set out below.

https://www.investegate.co.uk/announcem ... gm/7929687

Ian (No holding).

[idpickering]

Dividend Declaration

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, has today declared an interim dividend in respect of the period from 1 October 2023 to 31 December 2023 of 1.515 pence per ordinary share (the "Second Quarterly Dividend").

The Second Quarterly Dividend will be paid on or around 14 February 2024 as a Property Income Distribution ("PID") in respect of the Company's tax-exempt property rental business to shareholders on the register as of 12 January 2024. The ex-dividend date will be 11 January 2024.

https://www.investegate.co.uk/announcem ... on/7974068

Ian (No holding).

[idpickering]

FITCH REAFFIRMS INVESTMENT GRADE RATING  

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that Fitch Ratings Limited ("Fitch") has reaffirmed the Company's existing Investment Grade, long-term Issuer Default Rating ("IDR") of 'BBB+' with a stable outlook.

https://www.investegate.co.uk/announcem ... g-/8022992

Ian (No holding).

[idpickering]

Notice of Half Year Results

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, will announce its half year results for the six months ended 31 December 2023 on Wednesday, 13 March 2024.

https://www.investegate.co.uk/announcem ... ts/8059714

Ian (No holding).

[idpickering]

Notice of Investor Meet Company Presentation

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that Steven Noble and Robert Abraham will provide an investor presentation through the Investor Meet Company platform on Friday, 15 March 2024 at 11.00am (GMT).

The presentation is open to all eligible persons in the UK and questions can be submitted prior to the meeting via your Investor Meet Company dashboard up until 9.00am the day before the meeting or at any time during the presentation.

https://www.investegate.co.uk/announcem ... on/8077583

Ian.

[idpickering]

INTERIM RESULTS FOR SIX MONTHS ENDED 31 DEC 2023

Resilient financial performance

· 18% growth in operating profit2 to £45.0 million, reflecting:

o 10% increase in annualised passing rent to £104.7 million through acquisitions and contractual rental uplifts

o Continuing 100% rent collection

o Lower EPRA cost ratio 15.1% (six months to 31 December 2022: 16.7%)

o Sainsbury's Reversion Portfolio ("SRP") JV earnings replaced via higher yielding acquisitions

· Adjusted EPS stable at 2.9 pence reflecting lower leverage

· On track to deliver full-year 2024 dividend target of 6.06p

· Significant debt capacity for future earnings growth, well positioned to capitalise on current yields

And later;

Dividend

In August 2023, the Company paid a fourth interim dividend in respect of the period from 1 April 2023 to 30 June 2023 of 1.50 pence per share, taking total dividends paid and declared in respect of the financial year ended 30 June 2023 to 6.00 pence per share.

In November 2023, the Company paid a first interim dividend in respect of the period from 1 July 2023 to 30 September 2023 of 1.515 pence per share and in January 2024 approved a second interim dividend of 1.515 pence per share for the three months ended 31 December 2023.

The Company is continuing to target a dividend of 6.06 pence per share in respect of the year ended 30 June 2024.

https://www.investegate.co.uk/announcem ... 23/8084721

Ian (No holding).

[idpickering]

Acquisition of a Tesco store and amendments to IAA.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces the acquisition of a Tesco omnichannel supermarket in Stoke-on-Trent, Staffordshire, for a total purchase price of £34.7 million (excluding acquisition costs), reflecting a net initial yield of 7.5%.

The acquisition comprises a 54,451 sq ft net sales area omnichannel supermarket and petrol filling station which sits on an 8.7 acre site. The store was built in 1994 and supports Tesco's online fulfilment operation via both home delivery vans and customer Click & Collect. The store is being acquired with an unexpired lease term of 11 years and is subject to annual RPI-linked rent reviews (subject to a 4% cap and a 0% floor).

The acquisition has been funded through the drawdown of the Company's existing revolving credit facility.

https://www.investegate.co.uk/announcem ... aa/8101315

Ian (No holding).

[idpickering]

Debt Refinancing Update.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, announces that it has increased its unsecured facility with Sumitomo Mitsui Banking Corporation ("SMBC") by £37.5 million to £104.5 million.

https://www.investegate.co.uk/announcem ... e-/8117279

Ian (No holding).

[idpickering]

Dividend Declaration.

Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property in the UK, has today declared an interim dividend in respect of the period from 1 January 2024 to 31 March 2024 of 1.515 pence per ordinary share (the "Third Quarterly Dividend").

The Third Quarterly Dividend will be paid on or around 16 May 2024 as a Property Income Distribution ("PID") in respect of the Company's tax-exempt property rental business to shareholders on the register as of 12 April 2024. The ex-dividend date will be 11 April 2024.

As the Company's ordinary shares are currently trading at a discount to the published EPRA Net Tangible Assets per share, the board of directors of the Company (the "Board") believes that it is not in the best interests of shareholders to offer the scrip dividend alternative, under which shareholders would have been able to elect to receive new ordinary shares in lieu of the cash dividend (the "Scrip Dividend Alternative"). The Board has therefore exercised its discretion to suspend the Scrip Dividend Alternative in respect of the Third Quarterly Dividend.

https://www.investegate.co.uk/announcem ... on/8119798

Ian.