In its latest earnings release, Sirius Real Estate Ltd. declared a higher final dividend of 1.60 euro cents per share and gave an update on asset sales and purchases during the fiscal year ended March 31.
The dividend, which will be paid on or around Aug. 17 to shareholders on record on or around July 13, is a climb from the 1.56 cents per share distributed Jan. 19. It also represents a 4.6% year-over-year increase from 1.53 cents per share.
During the reporting period, the U.K.-based real estate company sold three mature assets in Munich, Düsseldorf and Kiel, Germany, for total proceeds of €103.0 million. The 90%-leased assets delivered €6.7 million in net operating income.
Additionally, Sirius purchased 13 German properties for €163.7 million during the year. The properties, generating €8.3 million of net operating income, are on average 58% occupied and total 231,769 square meters of space.
The purchases were financed using a combination of new equity, three new banking facilities and sale proceeds.
