Regional REIT Limited Revised Dividend Policy (1383P)
February 16 2016 - 2:00AM
UK Regulatory
TIDMRGL
RNS Number : 1383P
Regional REIT Limited
16 February 2016
16 February 2016
Regional REIT Limited
Revised Dividend Policy
The Board of Regional REIT Limited (LSE: RGL) ("Regional REIT"
or the "Company"), the recently listed regional commercial property
company, today announces its intention to increase the frequency of
dividend payments and move to the payment of quarterly dividends
with effect from the financial year beginning 1 January 2016.
Further details on the quarterly dividends are expected to be
announced alongside the publication of the Company's results ending
31 December 2015.
Following its recent Initial Public Offering the Board has
reconsidered the frequency of dividend payments in the light of
market practice in the sector and Board's perception of
shareholders' preferences, and following discussions with its
advisors.
The payment of dividends will remain subject to market
conditions, the Company's performance, its financial position and
the business outlook.
- ENDS -
Enquiries:
Regional REIT Limited
Press enquiries through Headland
London & Scottish Investments Tel: +44 (0) 141 248 4155
Asset Manager to the Company
Stephen Inglis
Derek McDonald
Toscafund Asset Management Tel: +44 (0) 20 7845 6100
Investment Manager to the Company
Nigel Gliksten
Headland Tel: +44 (0)20 7367 5222
Financial PR
Francesca Tuckett
About Regional REIT
Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main
Market listed specialist real estate investment company focused on
office and industrial property interests in the principal regional
locations of the United Kingdom outside of the Greater London
area.
Regional REIT is managed by London & Scottish Investments
and Toscafund Asset Management, and was formed by the merger of two
existing funds created by the managers to achieve a differentiated
play on recovery in UK regional property to deliver an attractive
total return to shareholders, with a strong focus on income.
The Company's investment portfolio, as at 31 December 2015, is
spread across more than 130 regional properties consisting of
around 720 individual units, with over 500 tenants. As at 31
December 2015, the investment portfolio had a value of GBP405.4m
and an overall income yield of 8.3%. The weighted average unexpired
lease term is just under six years.
The Company's shares were admitted to the Main Market of the
London Stock Exchange on 6 November 2015. For more information,
please visit www.regionalreit.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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