23rd Feb 2015 09:17
LONDON (Alliance News) - Tritax Big Box REIT PLC on Monday reported a rise in its net asset value per share in the year since its listing and said it has achieved its dividend target for the second half of the year.
Tritax said its net asset value at the end of December was 107.02 pence, up from 98 pence at the time of its IPO in December last year.
The group said it met its target for dividend payouts in the second half of the year at 2.3 pence per share. Its total dividend for the year was 4.15 pence per share and the company reaffirmed its target to pay a 6 pence dividend per share for 2015.
The group's pretax profit for the year was GBP41.8 million on the back of net rental income of GBP18.6 million. No comparable figures were provided.
The company invests in "Big Box" assets which it typically lets to institutional-grade tenants. ?Big Box? assets are large commercial properties which, when let, tend to command at least GBP35 million.
Tritax shares were down 0.5% to 111.25 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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