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Tritax Big Box REIT receives planning for new distribution centre, announces interim dividend

Thursday, 16th May 2019
Tritax Big Box REIT said it had received full planning permission for the development of a new regional distribution centre at Symmetry Park in Biggleswade, UK, which was pre-let to The Co-op Food Group as it announced its first-quarter interim dividend.

Upon practical completion of the construction, currently targeted for the first quarter of 2021, the occupier would take up a new 20-year lease, subject to five-yearly upward-only rent reviews indexed to the Retail Price Index.

The development would comprise a new purpose-built RDC with a gross internal floor area of 661,000 sq ft on a site of around50 acres, representing a low site cover of some 35%.

The company also announced an interim dividend for the period from 1 January 2019 to 31 March 2019 of 1.7125p per ordinary share, payable on or around 17 June 2019 to shareholders on the register on 24 May 2019.

It said it was targeting an aggregate dividend of 6.85p per ordinary share for the year ending 31 December 2019, an increase of 2.2% over the aggregate dividend paid for 2018.

At 9:48am: (LON:BBOX) Tritax Big Box Reit Plc share price was +0.45p at 148.55p

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