The Safestore Holdings Plc Board is recommending a final dividend of 20.4 pence per share (FY 2023: 20.2 pence) resulting in a full year dividend up 1% to 30.4 pence per share (FY 2023: 30.1 pence).
Over the last eleven years, the Group has grown the dividend by 24.6 pence per share during which period the Group has returned to shareholders a total of 216.5 pence per share. The total dividend for the year is covered 1.39 timesby Adjusted EPRA Diluted Earnings (1.59 times in 2023). Shareholders will be asked to approve the dividend at the Company's Annual General Meeting on 19 March 2025 and, if approved, the final dividend will be payable on 15 April 2025 to Shareholders on the register at close of business on 13 March 2025.
Other financial highlights include:
Group revenue at CER grew 1.1% year on year excluding £2.2m of insurance premium tax ("IPT") relating to the sale of customer goods insurance in FY 2023 not repeated this year
Group revenue flat year on year: down 0.3% at actual FX rates and up 0.2% at CER
Group like-for-like revenue in CER flat year on year
Underlying EBITDA down 4.2% in CER reflecting market inflationary pressures on key cost lines and the impact of new developments
Adjusted Diluted EPRA EPS down 11.7% at 42.3 pence (FY 2023: 47.9 pence)
