Secure Income REIT PLC Quarterly Dividend Declaration (7933V)
July 26 2018 - 2:02AM
UK Regulatory
TIDMSIR
RNS Number : 7933V
Secure Income REIT PLC
26 July 2018
26 July 2018
Secure Income REIT Plc
(the "Company")
Quarterly Dividend Declaration
The Board of Secure Income REIT Plc (AIM: SIR), the specialist
long term income REIT, today declares an interim dividend in
respect of the year ended 31 December 2018. A dividend of 3.9325
pence per Ordinary Share will be payable on 31 August 2018 to
shareholders on the register on 3 August 2018. The ex-dividend date
will be 2 August 2018.
The dividend will be paid as a Property Income Distribution in
respect of the Company's tax exempt property rental business.
The Company's half year results for the six months ending 30
June 2018 are expected to be announced on Friday, 7 September
2018.
For further information on the Company, please contact:
Secure Income REIT Plc +44 20 7647 7647
Sandy Gumm enquiries@SecureIncomeREIT.co.uk
Stifel Nicolaus Europe Limited
(Nominated Adviser) +44 20 7710 7600
David Arch stifelsecureincomereit@stifel.com
Tom Yeadon
Newgate
(PR Adviser) +44 20 7680 6550
James Benjamin sir@newgatecomms.com
Anna Geffert
About Secure Income REIT Plc
Secure Income REIT specialises in generating long term,
inflation protected, secure income from real estate investments.
Its investment strategy is designed to satisfy investors' growing
requirements for high quality, safe, inflation protected income
flows.
At 31 December 2017, the Company's investment property portfolio
was valued at GBP1.77 billion, producing GBP95.7 million per annum
of rental income from long term leases with a weighted average
unexpired term to expiry of over 22 years. All rental income is
subject to fixed or RPI upwards only rent reviews.
On 9 March 2018, the Company exchanged contracts to acquire two
off-market portfolios at a total cost of GBP436 million. The
acquisitions include Manchester Arena, the UK's largest indoor
entertainment arena, 76 Travelodge hotels and The Brewery on
Chiswell Street, the largest catered event space in the City of
London. To finance the acquisitions, the Company successfully
raised gross proceeds of GBP315.5 million in a significantly
oversubscribed Placing of 86,438,000 Ordinary Shares, completing
the Placing over a week earlier than planned following strong
investor demand. New secured non-recourse debt facilities of c.
GBP128.7 million at c.30% loan to cost have also been drawn.
Following completion of the acquisitions, the Group owns
approximately GBP2.2 billion of investment property with a weighted
average unexpired lease term of some 22 years. The acquisitions
further diversify the Group's resilient portfolio of key operating
assets let to strong businesses in defensive sectors with high
barriers to entry. The RPI linked rent reviews and fixed rental
uplifts combine with fixed cost debt to drive healthy dividend
growth, creating attractive and predictable returns.
The Company is advised by Prestbury Investments LLP which was
adviser to Max Property Group plc until August 2014, when all of
the assets of Max Property Group plc were sold to Blackstone Group.
Prestbury Investments LLP is a partnership of real estate and
finance professionals including Nick Leslau, Mike Brown, Tim Evans,
Ben Walford and Sandy Gumm.
The Company's Board is chaired by Martin Moore and also
comprises three further independent Directors in Leslie Ferrar,
Jonathan Lane and Ian Marcus, as well as three members of the
Prestbury Team in Nick Leslau, Mike Brown and Sandy Gumm.
The Company is a UK REIT which floated on the AIM market of the
London Stock Exchange in June 2014.
The Company's LEI is: 213800M1VI451RU17H40
Further information on Secure Income REIT is available at:
www.SecureIncomeREIT.co.uk
Dividend withholding tax deductions
Shareholders entitled to elect to receive distributions without
deduction for withholding tax should complete the declaration form
which is available in the Investor Centre of the Company's website,
www.SecureIncomeREIT.co.uk or by request to
Enquiries@SecureIncomeREIT.co.uk or by writing to the Company
Secretary, Secure Income REIT Plc, Cavendish House, 18 Cavendish
Square, London W1G 0PJ. Shareholders who qualify for gross payments
are, principally, UK resident companies, certain UK public bodies,
UK charities, UK pension schemes and the managers of ISAs, PEPs and
Child Trust Funds, in each case subject to certain conditions.
Individuals and non-UK residents do not qualify for gross payments
of distributions and should not complete the declaration form.
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END
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