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Safestore announces a 7.6% increase in the final dividend to 12.0 pence

Investment Tools Ltd.
Safestore announces a 7.6% increase in the final dividend to 12.0 pence

Reflecting the Safestore's strong trading performance, the Board is recommending a 7.6% increase in the final dividend to 12.0 pence per share (FY2018: 11.15 pence per share) resulting in an increase of 7.7% in the total dividend to 17.5 pence per share for the year (FY2018: 16.25 pence per share).

The total dividend for the year is covered 1.63 times by Adjusted EPRA diluted earnings (1.65 times in 2018). The Group's dividend has increased by 204% in the last six years, during which period the Group has returned to shareholders a total of 76.5 pence per share. Shareholders will be asked to approve the dividend at the Company's Annual General Meeting on 18 March 2020 and, if approved, the final dividend will be payable on 9 April 2020 to Shareholders on the register at close of business on 6 March 2020.

 

Other financial highlights include:

Group revenue for the year up 5.5% (up 5.6% in CER)

Like-for-like Group revenue for the year in CER up 4.8%:

o UK up 4.7%

o Paris up 5.6%

Underlying EBITDA up 5.4% in CER which, combined with a reduced gain on investment properties of £84.2m (FY2018: £122.1m), resulted in statutory operating profit of £163.7m (FY2018: £197.6m)

Adjusted Diluted EPRA Earnings per Share6 up 6.3% at 28.5 pence (FY2018: 26.8 pence). Diluted Earnings per Share was 62.6 pence (FY2018: 84.2 pence) largely due to the lower property valuation gain in FY2019

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