https://www.investegate.co.uk/segro-plc ... 00031399V/
Highlights:
· Adjusted pre-tax profit of £140.4 million up 6.5 per cent compared with the prior year (H1 2019: £131.8 million). A djusted EPS is 12.5 pence (H1 2019: 12.2 pence) and Adjusted NAV per share up 2.6 per cent to 718 pence (31 December 2019: 700 pence), in part due to a 0.7 per cent (H1 2019: 3.5 per cent) increase in the valuation of the portfolio.
· Good lettings and asset management performance supported by continued high levels of occupier demand. £33.7 million of new headline rent captured in the period, including £18.8 million of new pre-let agreements, tracking in line with 2019 levels.
· Continuing to invest for growth with net capital expenditure of £631 million in the period through asset acquisitions, development projects and land purchases. Future earnings prospects underpinned by 1.3 million sq m of development projects under construction or in advanced pre-let discussions, equating to an additional £78 million of potential rent, 86 per cent of which relates to pre-lets.
· Over £1 billion of new equity and debt financing, helping to strengthen the balance sheet for further, development-led growth. LTV of 22 per cent at 30 June 2020.
· The £10 million SEGRO Centenary Fund, launched in April, has already awarded £771,000 to projects across the UK and Continental Europe with £465,000 of additional support to help alleviate pressures caused by the pandemic.
· Interim dividend increased by 9.5 per cent to 6.9 pence (2019 interim dividend: 6.3 pence), in line with our usual practice of setting the interim dividend at one-third of the previous full year dividend.
FINANCIAL CALENDAR
2020 interim dividend ex-div date 13 August 2020
2020 interim dividend record date 14 August 2020
2020 interim dividend scrip dividend price announced 20 August 2020
Last date for scrip dividend elections 3 September 2020
2020 interim dividend payment date 24 September 2020
That's pleasing an actual dividend increase!