Roadside (AIM: ROAD) has reopened its redeveloped Coventry forecourt following a £1.7 million capital investment, while confirming plans to recommend its first dividend.
The group acquired the former Sainsbury’s site for £1.25 million, taking total acquisition and redevelopment expenditure on the property to approximately £2.95 million.
The site now offers Valero-branded fuel and a Londis convenience store, alongside four parcel lockers, two jet-wash bays and a laundromat.
Roadside has also secured a grid connection and planning permission for up to eight ultrafast electric-vehicle charging bays.
Those chargers have not yet been installed, with deployment expected over the coming months.
Management said the reopened Coventry site has made an encouraging start, with early fuel volumes described as strong.
Following the completion of acquisitions including Gardner Retail, D A Roberts Fuels, Hoch Group and Ross Road Petrol Filling Station, Roadside now operates 21 energy forecourt sites.
The company has also completed a detailed review of the entire estate and has begun implementing a prioritised capital-investment programme at sites where management sees the strongest potential returns.
That creates a broader value-creation strategy based on improving existing assets rather than relying solely on further acquisitions.
Roadside also confirmed that the Board intends to recommend a maiden final dividend of at least 0.36p per share for FY26.
The payment is not yet formally approved and will remain subject to shareholder approval at the company’s next annual general meeting in 2027.
The final amount and payment timetable are expected to be confirmed alongside Roadside’s full-year results in January 2027.
The proposed dividend follows the commitment made during the company’s February fundraising to introduce a progressive distribution policy after completion of the Gardner Retail and DAR acquisitions.
Charles Dickson, CEO, commented: ” When we raised capital in February, we told shareholders that the businesses we were buying would generate the cash both to reinvest in our sites and to reward investors. Today we are delivering on both. Having reviewed every site in detail, we now have a clear plan to unlock value across the estate and Coventry shows what that investment can achieve.
Recommending our first dividend is an important milestone for Roadside and reflects the Board’s confidence in the cash generation of the portfolio as we continue to build scale.”
Investor takeaway: Roadside has completed the redevelopment of its Coventry forecourt and intends to recommend a maiden FY26 dividend of at least 0.36p per share. The group now operates 21 sites following four acquisitions, with a portfolio-wide capex programme under way, although the dividend remains subject to shareholder approval in 2027.
