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Warehouse property investor Warehouse REIT upped its annual dividend after higher rental revenue helped boost its underlying earnings.
Warehouse REIT declared a full-year dividend for the 12 months through March of 6.2p per share, up from 6p on-year, including a final interim dividend of 1.6p.
Pre-tax profit slipped to £20.7m, from £22.8m, though the fall owed to lower valuation gains on investment properties.
Operating profit before gains on investment properties jumped to £21.1m, up from £13.0m.
'We are confident that we have built a resilient business, with around 560 tenants across numerous industry sectors and a portfolio of assets that are attractive to a wide range of potential occupiers,' chairman Neil Kirton said.
'The board is therefore confident that we are well placed to navigate the short-term disruption caused by Covid-19 and that we are in a strong position to resume our growth."
The company said good progress had been made with collection of March 2020 contracted rents, with payments made or agreed for 94.0% of contracted rent as at 27 May.
'We continue to work with the remaining tenants to secure payment as soon as possible,' it added.
At 9:08am: (LON:WHR) Warehouse Reit PLC share price was +2p at 113p