Regional REIT Limited Dividend Declaration (2586E)
February 27 2020 - 2:00AM
UK Regulatory
TIDMRGL
RNS Number : 2586E
Regional REIT Limited
27 February 2020
27 February 2020
REGIONAL REIT Limited
("Regional REIT", the "Group" or the "Company")
Q4 2019 Dividend Declaration: +2.5% FY 2019
Regional REIT (LSE: RGL), the regional real estate investment
specialist focused on building a diverse portfolio of income
producing regional UK core and core plus office and industrial
property assets, today announces its Q4 2019 dividend, making a
2.5% increase for the 2019 full year dividend distributions to
shareholders.
The Company will pay a dividend of 2.55 pence per share ("pps")
for the period 1 October 2019 to 31 December 2019. The dividend
payment will be made on 9 April 2020 to shareholders on the
register as at 6 March 2020. The ex-dividend date will be 5 March
2020. The entire dividend will be paid as a REIT property income
distribution ("PID").
This fourth quarter dividend marks the Company's successful
achievement of its annual distribution target, having paid a
dividend of 1.90pps for each of the first three quarters of
2019.
In respect of the financial year 2019, Regional REIT has
declared dividends amounting to 8.25pps. This increase of 2.5% from
the 2018 full year dividend of 8.05pps has been made in accordance
with the Company's intention to pursue a progressive dividend
policy.
Stephen Inglis, CEO of London and Scottish Property Investment
Management, the Asset Manager, commented:
"We are delighted to announce our fourth quarter 2019 dividend
of 2.55pps, which is in-line with our full year 2019 target of
8.25pps.
Our 2019 preliminary results will be announced on the 26th March
2020, and we expect both EPRA earnings per share and EPRA net asset
value per share to be in line with market expectations.
As previously announced, we are considering an equity fundraise
to take advantage of the near term pipeline of accretive growth
opportunities in the investment market, and we look forward to
updating our shareholders in due course."
- ENDS -
Enquiries:
Regional REIT Limited
Toscafund Asset Management Tel: +44 (0) 20 7845
6100
Investment Manager to the Group
Adam Dickinson, Investor Relations, Regional
REIT Limited
London & Scottish Property Investment Management Tel: +44 (0) 141
248 4155
Asset Manager to the Group
Stephen Inglis
Buchanan Communications Tel: +44 (0) 20 7466
5000
Financial PR regional@buchanan.uk.com
Charles Ryland / Victoria Hayns / Henry
Wilson
About Regional REIT
Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real
estate investment trust that launched in November 2015. It is
managed by London & Scottish Property Investment Management
Limited, the Asset Manager, and Toscafund Asset Management LLP, the
Investment Manager.
Regional REIT's commercial property portfolio is comprised
wholly of income producing UK assets and comprises, predominantly,
offices and industrial units located in the regional centres
outside of the M25 motorway. The portfolio is highly diversified,
with 160 properties, 904 tenants as at 31 December 2019, with a
valuation of GBP787.9m.
Regional REIT pursues its investment objective by investing in,
actively managing and disposing of regional core and core plus
property assets. It aims to deliver an attractive total return to
its Shareholders, targeting greater than 10% per annum, with a
strong focus on income supported by additional capital growth
prospects.
The Company's shares were admitted to the Official List of the
UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the
Group's website at www.regionalreit.com .
Cautionary Statement
This document has been prepared solely to provide additional
information to Shareholders to assess the Group's performance in
relation to its operations and growth potential. The document
should not be relied upon by any other party or for any other
reason. Any forward looking statements made in this document are
done so by the Directors in good faith based on the information
available to them up to the time of their approval of this
document. However, such statements should be treated with caution
due to the inherent uncertainties, including both economic and
business risk factors, underlying any such forward-looking
information.
ESMA Legal Entity Identifier ("LEI"): (549300D8G4NKLRIKBX73)
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END
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