StockMarketWire.com - Warehouse investor Tritax Big Box REIT declared a quarterly dividend but dropped its payout target for the year due to uncertainty caused by the Covid-19 crisis.

The company declared a dividend for the three months through March of 1.5625p per share.

But it withdrew its guidance of paying dividends of 7.0p per share for the 2020 financial year.

'The high-quality nature of our portfolio, strong financial position and diverse customer base provides us with the confidence to continue paying an attractive quarterly dividend,' Tritrax said.

The 1.5625p payment was a 'conservative level allowing the company to continue to deliver on its business plans whilst noting that the duration and effects of COVID-19 may be extended,' it added.

Tritrax said only three of its 58 buildings currently weren't operational and that its top five customers included Amazon, Morrisons, Howdens, Co-op and Tesco.

It expected that 96% of rents would be collected by the end of May in respect of advanced quarterly rental payments that were due by 1 April.

That included 86% which has been collected to date and a further 10% for which alternative short-term payments were expected to follow.

Discussions were ongoing with certain customers over the outstanding 4% of rent due.


At 1:20pm: [LON:BBOX] Tritax Big Box Reit PLC share price was -0.2p at 120.3p



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