Highlights

• Supermarket Income REIT paid 1.55p three times and 1.58p once, a total of 6.23p per share across four quarterly dividends.

• The latest Dividend of 1.58p went ex on 29 October 2026 and is payable on 27 November 2026.

• At roughly 82.8p the trailing Yield is 7.53%, and the quarterly run-rate implies a forward yield near 7.64%.

• A trailing payout of about 90% leaves little margin, so rent levels and property values matter.

Quarterly dividends are easier to follow than lumpy ones, and Supermarket Income REIT (LSE:SUPR) offers a clean sequence. Three payments at one level, then a small step up in the fourth, add up to 6.23p per share in the window. That nudge upward is the detail to watch, and so is the share of Earnings required to fund it.

Four quarterly payments

Ex-dividend dates were 29 January 2026 (1.55p, paid 27 February), 7 May 2026 (1.55p, paid 29 May), 23 July 2026 (1.55p, paid 21 August) and 29 October 2026 (1.58p, paid 27 November). All four are ordinary dividends, and no Special Dividend fell inside the window. The sum of 6.23p is 0.8% above the 6.18p annual figure published elsewhere, a small difference that comes from the exact dates counted. Annual growth was about 1.0% on the year earlier.

The yield

The latest quote was 82.7p to 82.85p, a midpoint of 82.78p, and it carried no date, so treat the price as indicative. Dividing 6.23p by 82.78p gives 7.53%. A published figure of 7.42% is close. If the new quarterly rate of 1.58p holds for four quarters, the annualised dividend is 6.32p, a forward yield of about 7.64%. For holders of LSE:SUPR, that annualised number is a calculation and not a guarantee.

Cover

The trailing payout stands near 90%. That is in line with the distribution requirements of a real estate Investment trust, but it provides little buffer. The small increase in the latest quarter shows the board is still raising the rate, and the record shows several years of continuous dividend growth, but each increase raises the amount that earnings need to cover. Investors should look at how rent growth and costs compare with the payout in the next results.

A supermarket property model

The company owns supermarkets and related grocery properties, leased to major food retailers on long leases. Rent often rises in line with Inflation under rent review terms. Because supermarkets are essential retailers, the income can be steady, and long leases lower the risk of vacancy. Supermarket Income REIT (LSE:SUPR) therefore offers an income profile that is more defensive than a general retail portfolio.

Index-linked rents and valuations

When rent reviews are linked to inflation, income grows over time but also creates a link between the portfolio's value and interest rates. When rates rise, the value of property can fall, because investors Demand a higher yield. This effect was visible across the property sector and is one reason why shares in REITs can move sharply when rate expectations change.

Business and risk

The company is a property investor classed in real estate, with a focus on supermarket property, and it is a member of the FTSE 250. Property valuations, interest rates and the financial strength of its tenants all shape the outlook. A yield above 7% is attractive only if rents and values hold steady, and share prices for property companies can move sharply when interest rates change.

How to read a trailing yield

A trailing yield divides the dividends paid over the past twelve months by the current share price. It describes what has happened, not what will happen, and it changes whenever the price moves. A rising yield can reflect a higher dividend or a falling share price, so the reason behind the change matters. Comparing yields across companies is useful only when the same period and the same type of payment are used in each case.

Ex-dividend dates explained

The ex-dividend date is the first day on which a buyer of the shares no longer qualifies for the next dividend. Anyone who holds the shares before that date receives the payment, normally a few weeks later. Share prices often fall by about the amount of the dividend on the ex-date, which is why a dividend on its own does not create value. The payment date is when the cash reaches the account.

Dividends are a board decision

A dividend is not a fixed obligation like interest on a loan. The board decides each payment after looking at profit, cash, Debt and future plans, and it can raise, hold, reduce or suspend the amount. A long record of payments is encouraging, but it describes the past. Investors who rely on dividends for income should look at the cash the Business generates as well as the amount it has paid.

What to watch next

The payment of 1.58p on 27 November 2026 is the next cash event, and the next quarterly declaration will show whether the rate steps up again. Investors should follow the loan-to-value ratio, rent growth and the share price relative to the net asset value. A steady increase in the dividend, backed by rising rents, would support income from LSE:SUPR.