Civitas Social Housing PLC Net Asset Value, Dividend Declaration and Update (2171M)
July 27 2017 - 1:03AM
UK Regulatory
TIDMCSH
RNS Number : 2171M
Civitas Social Housing PLC
27 July 2017
27(th) July 2017
CIVITAS SOCIAL HOUSING PLC
("Civitas" or the "Company")
Net Asset Value, Dividend Declaration and Investment Update
The Board of Civitas Social Housing PLC ("Board"), the first
London listed REIT dedicated to investing into regulated social
housing in England and Wales, is pleased to announce its net asset
value ("NAV") for the period from IPO (18 November 2016) to 30(th)
June 2017, a second quarterly dividend and a commentary on the
continued success in the deployment of capital.
Net Asset Value
As at the close of business on 30 June 2017, the unaudited
EPRA/IFRS NAV was 105.3 pence per ordinary share. This represents
an increase since IPO (based on 98.0 pence per ordinary share), of
7.5 per cent. per ordinary share and reflects an independent RICS
"Red Book" portfolio valuation undertaken by Jones Lang LaSalle
Ltd. as at 30(th) June 2017.
Following the reversal of a contingent provision for deferred
tax provided for as at 31(st) March 2017 the EPRA and IFRS NAV is
the same as at 30(th) June 2017.
Dividend Declaration
The Board has today declared a second quarterly dividend in
respect of the three months to 30(th) June 2017 of 0.75 pence per
ordinary share, payable on or around 31(st) August 2017 to
shareholders on the register on 4(th) August 2017. The ex-dividend
date will be 3(rd) August 2017. The dividend will be paid as an
ordinary UK dividend.
As noted previously, the Company is targeting a total dividend
of 3.0 pence per ordinary share for the period ending 31 December
2017 and 5.0 pence per ordinary share in the calendar year from
1(st) January 2018 to 31 December 2018.
Investment Update
In the period since IPO to 26(th) July 2017 the Company has made
the following investments and created a nationally based,
diversified portfolio of regulated social housing in England and
Wales.
Period 31-Mar-17 30-Jun-17 26-Jul-17
---------------------- ---------- ---------- ----------
Investment (GBPm) 106.1 206.0 229.0
---------------------- ---------- ---------- ----------
Properties 82 167 212
---------------------- ---------- ---------- ----------
Tenancies 487 1,130 1,351
---------------------- ---------- ---------- ----------
Local Authorities 32 68 73
---------------------- ---------- ---------- ----------
Housing Associations 5 7 8
---------------------- ---------- ---------- ----------
Care Providers 25 42 42
---------------------- ---------- ---------- ----------
The Company is pleased to note the total investment of GBP229
million (before purchase costs) as at 26(th) July 2017 which
reflects the breadth of opportunity and sector relationships that
Civitas Housing Advisers Limited, the exclusive Investment Manager
has developed on behalf of the Company.
In addition, the Investment Manager has developed a significant
pipeline of further opportunities which are at various stages of
due diligence. If completed these investments would represent a
value in excess of the remaining investable equity and potential
debt finance.
Quarterly Fact Sheet
The Company has today published its Fact Sheet for the quarter
to 30(th) June 2017 and this is available to view on the Company's
web site,
http://civitassocialhousing.com/investor-relations/reports-and-publications/.
Note:
(1) The target dividend is a target only and not a forecast.
There can be no assurance that the target will be met and it should
not be taken as an indication of the Company's expected or actual
future results.
For further information, please contact:
Civitas Housing Advisors Limited
Paul Bridge Tel: +44 (0)20 3709 4622
Andrew Dawber Tel: +44 (0)20 3709 4626
Cenkos Securities PLC
Sapna Shah Tel: +44 (0)20 7397 1922
Tom Scrivens Tel: +44 (0)20 7397 1915
Pagefield
Philip Dennis Tel: +44 (0)7947 868206
David Leslie Tel: +44 (0)7584 070274
Notes:
Civitas Social Housing PLC is the first Real Estate Investment
Trust offering pure play exposure to social housing in England and
Wales. The Company is managed by Civitas Housing Advisors Limited.
The Company is listed on the premium listing segment of the
Official List of the Financial Conduct Authority and was admitted
to trading on the main market for listed securities of the London
Stock Exchange in November 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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