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Tritax EuroBox profit jumps on higher portfolio value as e-commerce growth boosts warehouse demand
StockMarketWire.com
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Real estate asset company Tritax EuroBox reported a sharp uptick in annual profit as the value of its portfolio rose by more than a fifth.
For the 12 months ended 30 September 2020, pre-tax profit rose to €53.58 million from €26.34 million year-on-year as its portfolio value jumped 21.6% to €897.9 million.
The company said it would aim for a dividend pay out 90%-to-100% of adjusted earnings per share each year, with a minimum payout of 85%.
In the prior year, the total dividend was 85.3% covered by adjusted earnings.
The update on the dividend comes as the company said it would aim to acquire assets at an earlier point in the development cycle.
The total dividend was 4.40 euro cents, up from 3.40 cents last eyar.
'Looking further ahead, occupier demand is set to remain strong, while the supply of new logistics space will be constrained for some time to come, which is positive for market rental growth,' the company said.
At 8:55am: (LON:EBOX) Tritax Eurobox Plc Ord Eur0.01 Gbp share price was 0p at 93.8p
Story provided by StockMarketWire.com
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