Civitas Social Housing PLC Net Asset Value and Dividend Declaration (1255E)
May 04 2017 - 2:01AM
UK Regulatory
TIDMCSH
RNS Number : 1255E
Civitas Social Housing PLC
04 May 2017
4 May 2017
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
Net Asset Value and Dividend Declaration
The Board of Civitas Social Housing PLC ("Board"), the first
London listed REIT dedicated to investing into regulated social
housing, is pleased to announce its net asset value ("NAV") for the
period from IPO (18 November 2016) to 31 March 2017 ("Period"),
declare its maiden dividend and publish its first Quarterly Fact
Sheet.
Net Asset Value
As at the close of business on 31 March 2017, the unaudited EPRA
NAV per ordinary share was 102.0 pence with a corresponding IFRS
NAV of 101.3 pence per ordinary share. This represents an increase
since IPO (when compared to the opening EPRA/IFRS NAV of 98.0 pence
per ordinary share), of 4.1% and 3.4% respectively and reflects the
independent portfolio valuation undertaken by Jones Lang LaSalle
Ltd. as at 31 March 2017.
Dividend Declaration
The Board has today declared its maiden dividend in respect of
the Period of 0.75 pence per ordinary share, payable on or around
31 May 2017 to shareholders on the register on 12 May 2017. The
ex-dividend date will be 11 May 2017. The dividend will be paid as
an ordinary UK dividend.
As noted previously, the Company is targeting a total dividend
of 3.0 pence per ordinary share for the period ending 31 December
2017 and 5.0 pence per ordinary share in the year to 31 December
2018.
Progress to date
To date the Company has invested GBP132 million of the net IPO
proceeds. The Investment Manager continues to see appropriate
opportunities, is progressing due diligence on a number of
potential investments and retains the objective to invest available
cash in the timeframe outlined at IPO.
Quarterly Fact Sheet
The Company has today published its first Quarterly Fact Sheet
for the Period which is available on the Company's website,
www.civitassocialhousing.com.
Note:
(1) The target dividend is a target only and not a forecast.
There can be no assurance that the target will be met and it should
not be taken as an indication of the Company's expected or actual
future results.
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3709 4622
Andrew Dawber Tel: +44 (0)20 3709 4626
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922
Tom Scrivens Tel: +44 (0)20 7397 1915
Pagefield
Philip Dennis Tel: +44 (0)7947 868206
David Leslie Tel: +44 (0)7584 070274
Notes:
Civitas Social Housing PLC is the first Real Estate Investment
Trust offering pure play exposure to social housing in England and
Wales. The Company is managed by Civitas Housing Advisors Limited.
The Company is listed on the premium listing segment of the
Official List of the Financial Conduct Authority and was admitted
to trading on the main market for listed securities of the London
Stock Exchange in November 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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