Home REIT PLC Interim Dividend Declaration (0142P)
February 15 2021 - 2:00AM
UK Regulatory
TIDMHOME
RNS Number : 0142P
Home REIT PLC
15 February 2021
15 February 2021
HOME REIT plc
("Home REIT" or the "Company")
INTERIM DIVIDEND DECLARATION
The Board of Home REIT plc (ticker: HOME), which funds the
acquisition and creation of high-quality properties across the UK
that are dedicated to providing accommodation to the homeless,
today declares a maiden interim dividend of 0.83 pence per Ordinary
Share in respect of the period from admission of the share capital
of the Company to trading on the premium segment of the main market
of the London Stock Exchange on 12 October 2020 to 31 December
2020, as scheduled below:
Ex-Dividend Date 25 February 2021
Record Date 26 February 2021
Payment Date 19 March 2021
The dividend of 0.83 pence per Ordinary Share will be paid as an
ordinary UK dividend.
The Company is targeting a minimum total dividend of 2.5 pence
per Ordinary Share in relation to the financial period ending 31
August 2021(1) , in line with the Company's stated target at
launch. From 1 September 2021, the Company is targeting an annual
dividend of 5.5 pence per ordinary share per annum(1) , payable
quarterly, with the potential to grow through inflation-protected
long-term lease agreements, in line with the Company's stated
target at launch.
1 The target dividend is a target only and not a profit
forecast. There can be no assurance that the target will be met and
it should not be taken as indication of the Company's expected or
actual future results.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Alvarium Home REIT Advisors Limited Via Maitland/AMO below
Jamie Beale
Gareth Jones
Alvarium Securities Limited
Mark Thompson +44 (0)20 7016 6711
Eddie Nissen +44 (0)20 7016 6713
Oliver Kenyon +44 (0)20 7195 1448
Maitland/AMO (Communications +44 (0)7747 113 930
adviser) homereit-maitland@maitland.co.uk
James Benjamin
Rhys Jones
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website:
www.homereituk.com
About Home REIT plc
Home REIT plc seeks to contribute to the alleviation of
homelessness in the UK, whilst targeting inflation-protected income
and capital returns, by funding the acquisition and creation of a
diversified portfolio of high-quality accommodation assets across
the UK which will be dedicated to providing accommodation to the
homeless. The accommodation assets will be let or pre-let on very
long (typically 20 to 30 years) leases, containing inflation-linked
or fixed uplift rent review provisions, to registered charities,
housing associations, community interest companies and other
regulated organisations which have a proven operating track record
in providing low-cost accommodation to the homeless and which
receive housing benefit or comparable support from local or central
government to fund the provision of such accommodation to the
homeless.
There is a critical need for further accommodation for the
homeless in the UK, due to an increasing homeless population and a
lack of available and affordable high-quality, fit-for-purpose
stock to address the problem. Local housing authorities are under a
statutory duty to secure accommodation for individuals who are
unintentionally homeless and in priority need but current
accommodation for the homeless is limited in quantum and often
sub-standard and uneconomical.
The Company focuses on investing in and creating well-located
properties that provide a sustainable level of rent for the tenant.
Within the homeless accommodation assets, there is a focus on care,
support, training and rehabilitation to provide vulnerable homeless
people with the skills and confidence to find long-term
accommodation and enable them to reintegrate back into society.
Savings are expected to be made to local authorities and other
providers of accommodation to the homeless via lower rents versus
more expensive alternative accommodation.
The Company is listed on the premium segment of the Official
List of the UK Financial Conduct Authority and its Ordinary Shares
were admitted to trading on the main market of the London Stock
Exchange, premium segment, on 12 October 2020.
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END
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