RDI REIT PLC Finalisation Announcement for Cash Dividend (7975H)
November 20 2018 - 2:02AM
UK Regulatory
TIDMRDI
RNS Number : 7975H
RDI REIT PLC
20 November 2018
RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00B8BV8G91
LEI: 2138006NHZUMMRYQ1745
FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND
FOR THE YEAR ENDED 31 AUGUST 2018
RDI shareholders are referred to the announcement released on 25
October 2018 regarding the second interim dividend of 1.35 pence
per share in respect of the year ended 31 August 2018 (the "cash
dividend").
Shareholders are advised that the GBP to Rand conversion rate is
18.01500. Accordingly, the Rand equivalent of the cash dividend of
1.35 pence is 24.32025 ZAR cents.
Shareholders will receive the cash dividend calculated as
follows:
Shareholders on
Shareholders on the the
UK share register SA share register
Non-PID element 0.27 4.86405*
-------------------- -------------------
Plus
-------------------- -------------------
PID element (gross) 1.08 19.45620
-------------------- -------------------
Less 20% UK withholding
tax** 0.216 3.89124
-------------------- -------------------
PID element (net of 20%) 0.864 15.56496
-------------------- -------------------
Less 5% SA withholding
tax*** N/A 0.97281
-------------------- -------------------
PID element (net of 25%) N/A 14.59215
-------------------- -------------------
* South African dividends tax at the rate of 20 per cent will
apply to cash non-PIDs paid by the Company, unless the beneficial
owner of the dividend is exempt from dividends tax (e.g. if the
beneficial owner is a South African company or a non-South African
resident). Since no withholding tax is suffered in the UK on cash
non-PIDs, no rebate can be claimed. The relevant regulated
intermediary will therefore be required to deduct 20 per cent tax
on all cash non-PIDs paid to persons who are not exempt from
dividends tax in South Africa and pay this to the South African
Revenue Service on the beneficial owner's behalf. The non-PID
element payable to shareholders on the SA share register net of
this 20 per cent dividends tax is 3.89124 ZAR cents.
**Certain categories of UK shareholders may apply for exemption,
in which case the PID element will be paid gross.
***A 5% rebate is reclaimable from the UK's HM Revenue &
Customs, resulting in an effective UK withholding tax rate of 15%.
Therefore, an additional 5% South African withholding tax is to be
deducted by the relevant regulated intermediary on all cash PIDs
paid to persons who are not exempt from dividends tax in South
Africa and paid to the South African Revenue Service on the
beneficial owner's behalf. As a result, the initial withholding tax
rate on cash PIDs for non-exempt South African shareholders will be
25%.
The cash dividend will be paid out of the Company's
distributable profits.
The salient dates for payment of the cash dividend published in
the announcement dated 25 October 2018, remain unchanged.
As at the date of this announcement, the Company has 1 900 449
536 ordinary shares of 8 pence each in issue.
For further information:
RDI REIT P.L.C.
Mike Watters, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Tel: +44 (0) 20 3727 1000
Ellie Sweeney
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
Note to editors:
About RDI
RDI is a UK Real Estate Investment Trust (UK-REIT) committed to
becoming the UK's leading income focused REIT. The Company's
income-led business model and strategic priorities are designed to
offer shareholders superior, sustainable and growing income
returns, with a target growth in underlying earnings per share of
3%-5% across the medium term.
Income sustainability is underpinned by a diversified portfolio
and tenant base, with no overreliance on any one sector or tenant,
together with an efficient capital structure. The secure and
growing income stream is 27.0% indexed and has a WAULT of 7.0 years
to first break (8.4 years to expiry). This is complemented by an
average debt maturity of 6.7 years of which over 95% of interest
costs are either fixed or capped. The Company is focused on all
aspects impacting shareholder distributions and reports one of the
lowest cost ratios in the industry whilst maintaining a low cost of
debt.
The Company owns properties independently valued at GBP1.6bn in
the United Kingdom and Germany, Europe's two largest, liquid and
transparent property markets. RDI invests in assets with strong
property fundamentals spread across UK offices (including London
serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take
advantage of the increasing occupier requirement for real estate
owners to become high quality service providers, given its scalable
operational platforms and nearly a third of the portfolio invested
in hotels and London serviced offices.
RDI holds a primary listing on the London Stock Exchange and a
secondary listing on the JSE and is included within the EPRA, GPR,
JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's
website www.rdireit.com
All figures as at 31 August 2018.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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