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Urban Logistics REIT hikes dividend 8.6%

By BFN News | 09:12 AM | Friday 29 May, 2020

Logistics property investor Urban Logistics REIT hiked its dividend 8.6% after boosting its annual rental income. The company declared a full-year dividend for the year through March of 7.6p per share, up from 7p on-year. Pre-tax profit halved to £9.4m, down from £18.7m on-year, owing to lower gains on the value of investment properties. Rental income rose 21% to £12.2m, while adjusted earnings also rose 21%, to £7.2m. Urban Logistics REIT said all rents due for the quarter to June 2020 were collected in full. 'The long-term economic impact of Covid-19 on the UK economy will take time to emerge,' chairman Nigel Rich said. 'However, it will change the way business is conducted with many more people working from home and doing their shopping on the internet, a trend which started well before the virus.' 'Against this backdrop, the fundamentals of the urban logistics market remain attractive.' At 9:12am: (LON:SHED) Urban Logistics REIT Plc share price was 0p at 130p Story provided by

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