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Dividends

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Supermarket Income REIT pays investors a quarterly dividend. To receive a dividend, shares must have been purchased or transferred by the ex-dividend date. Dividends will be paid to the investor nameon the share register as ofthe record date. These dates are announced ahead of each dividend payment. 

The actual and 12 month expected dividend calendar is outlined below.

Expected dividend calendar 2024/2025*

DividendAnnouncement DateEx divPayment Date
Q4 InterimEarly Jul 2024Mid Jul 2024Mid Aug 2024
Q1 InterimEarly Oct 2024Mid Oct 2024Mid Nov 2024
Q2 InterimEarly Jan 2025Mid Jan 2025Mid Feb 2025
Q3 InterimEarly Apr 2025Mid Apr 2025Mid May 2025

*All dates are provisional.

Dividends Declared 2023/2024

DividendEx divPaymentPid (p)Non Pid (p)SCRIP reference priceSCRIP mandate deadline
Q4 Interim13 Jul 20234 Aug 20231.37890.1211N/AN/A
Q1 Interim12 Oct 202316 Nov 20231.515-N/AN/A
Q2 Interim11 Jan 202414 Feb 20241.515-N/AN/A
Q3 Interim11 April 202416 May 20241.515-N/AN/A

SCRIP Dividend Scheme

What is the SCRIP Dividend Scheme?

The SCRIP Dividend Scheme provides Shareholders the opportunity to receive dividends in New Shares instead of cash (provided a scrip dividend alternative is offered).

SCRIP dividends enable Shareholders to increase their holding in the Company in a simple manner without incurring any dealing costs or stamp duty. At the same time, the Company will retain more cash in its business, which would otherwise be paid as a dividend.

How do I join the SCRIP Dividend Scheme?

The SCRIP dividend Scheme Booklet and the Mandate Form provide full details on the SCRIP and how to join. These can be downloaded using the link below.

What will the SCRIP reference price for the next dividend be?

The reference price for the next interim dividend will be announced via RNS and on this website in due course.

Further questions

For general enquiries about the Scheme, please contact Link on 0371 664 0321. Lines are open 9.00 a.m. to 5.00 p.m. Monday to Friday (except UK public holidays). Calls to the helplines from outside the UK will be charged at applicable international rates. Calls may be recorded and randomly monitored for security and training purposes. The helpline cannot provide advice on the merits of the Scrip Dividend Scheme nor give any person financial, legal or tax advice.

 

On 6 July, 2023, the Company announced that due to its ordinary shares trading at a discount to the published EPRA Net Tangible Assets per share, the board of directors of the Company (the “Board”) did not believe that it was in the best interests of shareholders to offer the scrip dividend alternative in relation to the fourth quarterly dividend, under which shareholders would have been able to elect to receive new ordinary shares in lieu of the cash dividend (the “Scrip Dividend Alternative”). The Board therefore exercised its discretion to suspend the Scrip Dividend Alternative in respect of the fourth quarterly dividend.

The Board will keep under consideration the offer of a scrip dividend alternative in respect of future quarterly dividends.

Types of dividend

The Company and its subsidiaries operate as a UK Group REIT. Subject to continuing compliance with certain rules, the UK REIT rules exempt the profits of the Group’s property rental business from UK corporation tax.

 

The Company can pay dividends of two types. Firstly, the dividend may be paid as a Property Income Distribution (“PID”) which is payable from income generated by the Company’s qualifying UK property rental business. Secondly, the dividend may be paid as a Non-Property Income Distribution (“non-PID”) which is payable on property rental business prior to entry into the REIT regime and/or from the Company’s residual business activities, or a mixture of the two.

Profits distributed as PID dividends are paid out of tax-exempt profits and therefore are potentially fully taxable in shareholders’ hands as property letting income. PID dividends are normally paid after deduction of withholding tax at the basic rate of income tax (20%), which the REIT pays to HMRC on behalf of the shareholder. Certain classes of shareholder are eligible to receive gross PID dividends. Examples of such classes are:

 

– UK Companies

– Charities

– Local Authorities

– UK Pension Schemes

– Managers of PEPs and ISAs

 

Forms for claiming exemption from withholding tax on PID dividend payments are provided below

Share Register Contact:

Our Registrars, Link Asset Services, can be contacted by telephone
on 0871 664 0300 (lines open 9:00am-5.30pm Monday to Friday).

From outside the UK please call +44 (0) 371 664 0300.

Alternatively Link Asset Services can be contacted by email: shareholderenquiries@linkgroup.co.uk.

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