Supermarket Income declares quarterly dividend, suspends scrip alternative

(Sharecast News) - Supermarket Income REIT declared an interim dividend of 1.53p per share on Thursday, for the period from 1 July to 30 September. The FTSE 250 real estate investment trust said the dividend would be paid on or around 15 November as a property income distribution (PID) to shareholders on the register as of 11 October, with the ex-dividend date set for 10 October.

It said it had decided to suspend the scrip dividend alternative, which would have allowed shareholders to opt for new shares instead of the cash dividend.

The decision came in light of the company's shares trading at a discount to its EPRA net tangible assets per share, with the board believing that a cash dividend was in the best interest of shareholders under current market conditions.

Supermarket Income's directors said they would continue to review the possibility of offering a scrip dividend alternative for future quarterly dividends.

At 1159 BST, shares in Supermarket Income REIT were up 0.07% at 75.55p.

Reporting by Josh White for Sharecast.com.