Safestore announces a 5.8% increase in the final dividend to 12.7 pence, giving a total for the year of 18.6 pence

DividendMax Ltd.

Safestore announces a 5.8% increase in the final dividend to 12.7 pence, giving a total for the year of 18.6 pence

Reflecting the Group's strong trading performance, the Board is to recommend a 5.8% increase in the final dividend to 12.7 pence per share (FY2019: 12.0 pence per share) resulting in an increase of 6.3% in the total dividend to 18.6 pence per share for the year (FY2019: 17.5 pence per share). The total dividend for the year is covered 1.62 times by Adjusted EPRA diluted earnings (1.63 times in 2019). The Group's dividend has increased by 223% in the last seven years, during which period the Group has returned to shareholders a total of 95.1 pence per share. Shareholders will be asked to approve the dividend at the Company's Annual General Meeting on 17 March 2021 and, if approved, the final dividend will be payable on 8 April 2021 to Shareholders on the register at close of business on 5 March 2021

Other financial highlights include:

Group revenue for the year up 6.9% (up 7.0% in CER1)

Like-for-like8 Group revenue for the year in CER up 3.4%:

o UK up 3.3%

o Paris up 3.8%

Underlying EBITDA up 7.4% in CER which, combined with an increased gain on investment properties of £126.5m (FY2019: £84.2m), resulted in statutory operating profit of £212.2m (FY2019: £163.7m)

Adjusted Diluted EPRA Earnings per Share up 6.0% at 30.2 pence (FY2019: 28.5 pence). Diluted Earnings per Share was 84.0 pence (FY2019: 62.6 pence) largely due to the higher property valuation gain in FY2020

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