Residential Secure Income PLC Dividend Declaration (3152X)
April 29 2019 - 2:02AM
UK Regulatory
TIDMRESI
RNS Number : 3152X
Residential Secure Income PLC
29 April 2019
29 April 2019
Residential Secure Income plc (the "Company")
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which
invests in affordable shared ownership, retirement and local
authority housing, is pleased to declare an interim dividend of
1.25 pence per Ordinary Share for the period from 1 January 2019 to
31 March 2019.
1.125 pence of the dividend will be paid as a Property Income
Distribution ("PID") in respect of the Company's tax exempt
property rental business and 0.125 pence will be paid as an
Ordinary UK dividend ("non-PID"). The dividend will be paid on 7
June 2019 to Shareholders on the register as at 10 May 2019. The
ex-dividend date is 9 May 2019.
Including this interim dividend, the Company will have paid 2.50
pence per Ordinary Share for the financial year beginning on 1
October 2018. For this financial year, ReSI is targeting a dividend
yield of 5% per annum based on the issue price of 100 pence per
Ordinary Share. Over time, ReSI expects its dividends to increase
broadly in line with inflation, and targets a total return in
excess of 8% per annum(1) . ReSI intends to pay dividends to
Shareholders on a quarterly basis and in accordance with the REIT
regime.
(1) These are targets only and not a profit forecast. There can
be no assurance that the targets will be met.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ReSI Capital Management Limited
Ben Fry
Jonathan Slater
Alex Pilato
Mark Rogers
Richard Stubbs +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Gary Gould +44 (0) 20 7029 8000
FTI Consulting +44 (0) 20 3737 1000
Richard Sunderland Email: resi@fticonsulting.com
Claire Turvey
Richard Gotla
The Company's LEI is: 213800D24WA531LAR763
About Residential Secure Income plc
Residential Secure Income plc (LSE: RESI) is listed on the
premium segment of the Official List of the UK Listing Authority
and was admitted to trading on the Main Market of the London Stock
Exchange in July 2017.
ReSI invests in shared ownership and rental portfolios of Homes
across residential asset classes that comprise the stock of Housing
Associations and Local Authorities throughout the UK. To date it
has committed c. GBP300 million, comprising a portfolio of 2,674
properties, across a mixture of shared ownership, local authority
and retirement housing.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has an 18 year track
record of executing transactions within the UK social housing
sector and, to date, has arranged funding of over GBP10 billion in
the social housing, care and other specialist residential property
sectors.
ReSI seeks to deliver secure, long-dated, inflation-linked
income returns through investment in UK social housing. It aims to
meet demand from housing developers (Housing Associations, Local
Authorities and private developers) for long-term investment
partners who support them to accelerate development of socially and
economically beneficial new housing making a meaningful
contribution to the UK housing shortage.
Homes acquired by ReSI are predominantly be on a freehold or
long leasehold basis (typically 99 years or more to maturity) and
benefit from long term (typically 20 years plus) inflation-adjusted
cash flows. Acquisitions by ReSI are limited to homes with
sufficient cashflows, counterparty credit quality and property
security that allow the Fund Manager to arrange long-term
investment grade equivalent debt.
Further information on ReSI is available at
www.resi-reit.com
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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