Residential Secure Income PLC Dividend Declaration (4565H)
August 01 2019 - 2:02AM
UK Regulatory
TIDMRESI
RNS Number : 4565H
Residential Secure Income PLC
01 August 2019
1 August 2019
Residential Secure Income plc
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 April 2019 to
30 June 2019.
All 1.25 pence of the dividend will be paid as an Ordinary UK
dividend ("non-PID") and no Property Income Distribution ("PID")
will be paid for this quarter. The dividend will be paid on 6
September 2019 to Shareholders on the register as at 9 August 2019.
The ex-dividend date is 8 August 2019.
Including this interim dividend, the Company will have paid 3.75
pence per Ordinary Share for the first three quarters of 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 / TradeRisks
Limited
Ben Fry
Alex Pilato
Mark Rogers
Jonathan Slater
Richard Stubbs +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 a real estate
investment trust (REIT) listed on the premium segment of the Main
Market of the London Stock Exchange with the objective of
delivering secure inflation linked returns by investing in
affordable shared ownership, retirement and Local Authority housing
throughout the UK.
ReSI targets a secure, long-dated, inflation-linked dividend of
5.0 pence per share p.a. (paid quarterly) and a total return in
excess of 8.0% p.a. and has to date committed c. GBP300 million,
assembling a portfolio of 2,678 properties.
ReSI aims to make a meaningful contribution to alleviating the
UK housing shortage by meeting demand from housing developers
(Housing Associations, Local Authorities and private developers)
for long-term investment partners to accelerate the development of
socially and economically beneficial new affordable housing.
ReSI's subsidiary, ReSI Housing Limited, is registered as a
for-profit Registered Provider of Social Housing, and so provides a
unique proposition to its housing developer partners, being a long
term private sector landlord within the social housing regulatory
environment. As a Registered Provider, ReSI Housing can acquire
affordable housing subject to s106 planning restrictions and
housing funded by government grant.
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.
Acquisitions by ReSI are limited to homes with sufficient
cashflows, counterparty credit quality and property security to be
capable of supporting long--term investment grade equivalent
debt.
ReSI does not manage or operate stock and uses experienced and
credit-worthy third party managers.
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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