Residential Secure Income PLC Dividend Declaration (3772E)
February 08 2018 - 12:33PM
UK Regulatory
TIDMRESI
RNS Number : 3772E
Residential Secure Income PLC
08 February 2018
8 February 2018
RESIDENTIAL SECURE INCOME PLC
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which
invests in residential asset classes that comprise the stock of UK
social housing providers, is pleased to declare a maiden dividend
of 0.75 pence per Ordinary Share for the initial period from the
date of admission to 31 December 2017. The dividend will be paid as
an ordinary UK dividend on or around 9 March 2018 to Shareholders
on the register as at 16 February 2018. The ex-dividend date is 15
February 2018.
ReSI is targeting a dividend of at least 3.0 pence per Ordinary
Share for the first financial period from the date of admission to
30 September 2018(1) . ReSI intends to pay dividends to
Shareholders on a quarterly basis and in accordance with the REIT
regime.
On a fully invested and geared basis, ReSI is targeting a
dividend yield of 5% per annum based on the issue price of 100
pence per Ordinary Share, which ReSI expects to increase broadly in
line with inflation, and a total return in excess of 8% per
annum(1) .
Separately, ReSI confirms that its first interim report will be
prepared for the initial period from the date of admission to 31
March 2018 and will be sent to Shareholders by the end of June
2018.
(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
Jonathan Slater, Chief Executive
Ben Fry, Investment Manager
Alex Pilato, Director +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Gary Gould +44 (0) 20 7029 8000
FTI Consulting +44 (0) 20 3727 1000
Richard Sunderland Email: resi@fticonsulting.com
Claire Turvey
Richard Gotla
NOTES:
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 has been established to invest in portfolios of Homes
across residential asset classes that comprise the stock of Housing
Associations and Local Authorities, comprising Shared Ownership
Homes and Rental Homes (being Market Rental Homes, Functional Homes
and Sub-Market Rental Homes) throughout the UK.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has a 16 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 Associations and Local Authorities for
alternative equity-like financing sources that allows them to
recycle capital back into socially and economically beneficial new
housing, making a meaningful contribution to the UK housing
shortage.
Homes acquired by ReSI will 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 will be 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
IMPORTANT INFORMATION:
The contents of this announcement, which have been prepared by
and are the sole responsibility of ReSI, have been approved by the
Fund Manager as a financial promotion solely for the purposes of
section 21(2)(b) of the Financial Services and Markets Act
2000.
Save to the extent otherwise defined herein, terms used in this
announcement shall, unless the context otherwise requires, bear the
meanings given to them in the prospectus published by ReSI dated 22
June 2017.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements involve known and unknown risks and uncertainties, many
of which are beyond ReSI's control and all of which are based on
ReSI's board of directors' current beliefs and expectations about
future events. These forward-looking statements may be identified
by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates",
"expects", "intends", "may", "will" or "should" or, in each case,
their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters
that are not historical facts. Forward-looking statements may and
often do differ materially from actual results. Any forward looking
statements reflect ReSI's current view with respect to future
events and are subject to risks relating to future events and other
risks, uncertainties and assumptions relating to ReSI's business,
the results of operations, financial condition prospects, growth
and dividend policy of ReSI and the industry in which it operates.
Forward-looking statements speak only as of the date they are made
and cannot be relied upon as a guide to future performance. ReSI
expressly disclaims any obligation or undertaking to update, review
or revise any forward-looking statement contained in this
announcement whether as a result of new information, future
developments or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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