Dividend Declaration

RNS Number : 3586P

Regional REIT Limited

31 August 2017

 

31 August 2017

Regional REIT Limited

Second Quarter 2017 Dividend Declaration

Regional REIT Limited (LSE: RGL) ("Regional REIT", "the Group" or "the Company"), the UK regional office and industrial property focused REIT, today announces its dividend for the second quarter of the year, to 30 June 2017.

The Company will pay a dividend of 1.80 pence per share ("pps") for the period 1 April 2017 to 30 June 2017 (1 April 2016 to 30 June 2016: 1.75pps).

The dividend payment will be made on 13 October 2017 to shareholders on the register as at 8 September 2017. The ex-dividend date will be 7 September 2017.

It is currently the Company's intention to pay three quarterly dividends at approximately this level in relation to the financial year 2017, of which this is the second, and then a fourth quarter dividend (to be declared in early 2018) to at least manage compliance with the 90% minimum REIT distribution requirement.

The payment of dividends will remain subject to market conditions, the Company's performance, its financial position and the business outlook.

The Group confirms that its 2017 Interim Results Announcement will take place on Thursday, 14 September, 2017, as previously announced.

- ENDS -

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation that came into effect on 3 July 2016.

Enquiries:

Regional REIT Limited
Press enquiries through Headland
Toscafund Asset Management	Tel: [phone]
Investment Manager to the Group
James S Johnson, Investor Relations, Regional REIT Limited
London & Scottish Investments	Tel: [phone]
Asset Manager to the Group
Stephen Inglis
Headland	Tel: [phone]
Financial PR
Francesca Tuckett

 

About Regional REIT

Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main Market traded specialist real estate investment trust focused on office and industrial property interests in the principal regional locations of the United Kingdom outside of the M25 motorway.

Regional REIT is managed by London & Scottish Investments, the Asset Manager, and Toscafund Asset Management, the Investment Manager, and was formed by the combination of two existing funds previously created by the Managers as a differentiated play on the expected recovery in UK regional property, to deliver an attractive total return to Shareholders and with a strong focus on income.

The Group's investment portfolio, as at 31 December 2016, was spread across 123 regional properties, 941 units and 717 tenants. As at 31 December 2016, the investment portfolio had a value of £502.4m and a net initial yield of 6.7%. The weighted average unexpired lease term to first break was 3.6 years. On 24 March 2017, the Group announced the completion of the acquisition of c. £129m of UK regional office, industrial and retail investment properties.

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.

 

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