LXI REIT PLC Dividend guidance increase & Dividend declaration (2158Z)
September 17 2020 - 1:00AM
UK Regulatory
TIDMLXI
RNS Number : 2158Z
LXI REIT PLC
17 September 2020
17 September 2020
LXi REIT plc
(the "Company" or the "Group")
INCREASE IN DIVIDEND GUIDANCE
DIVIDEND DECLARATION
Increase in dividend guidance
The Board of LXI REIT plc (LXI) is pleased to report that,
following robust rent collection for the quarter ending September
2020, it has today increased its quarterly dividend guidance by 4%
to 1.35 pence per share.* This dividend is expected to be fully
covered by net rental income for the quarter.
Dividend declaration
The Board is pleased to declare today an interim quarterly
dividend in respect of the quarter ended 30 June 2020 of 1.30 pence
per ordinary share, in line with the previous quarterly dividend
guidance issued in May 2020.
The dividend will be payable on 16 October 2020 to shareholders
on the register at 25 September 2020. The ex-dividend date will be
24 September 2020.
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited Via Maitland/AMO
John White (Partner, Fund Manager)
Simon Lee (Partner, Fund Manager)
Peel Hunt LLP Tel: 020 7418 8900
Luke Simpson/Liz Yong
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Maitland/AMO (Communications Adviser) Tel: 020 7379 5151
James Benjamin Email: lxireit-maitland@maitland.co.uk
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The Company's LEI is: 2138008YZGXOKAXQVI45
NOTES:
LXI REIT plc invests in UK commercial property assets let, or
pre-let, on very long (typically 20 to 30 years to expiry or first
break), inflation-linked leases to a wide range of strong tenant
covenants across a diverse range of robust property sectors.
The Company may invest in fixed-price forward funded
developments, provided they are pre-let to an acceptable tenant and
full planning permission is in place. The Company will not
undertake any direct development activity nor assume direct
development risk.
The Company is targeting a quarterly dividend of 1.35 pence per
ordinary share for the quarter that commenced 1 July 2020.* It will
continue to monitor the improving visibility on its future rent
collection as the UK moves out of lockdown and is keeping its
dividend guidance under careful review on a quarterly basis.
The Company, a real estate investment trust ( " REIT " )
incorporated in England and Wales, is listed on the premium listing
segment of the Official List of the UK Listing Authority and was
admitted to trading on the main market for listed securities of the
London Stock Exchange in February 2017.
The Company is a constituent of the FTSE EPRA/NAREIT and MSCI
indices.
Further information on the Company is available at
www.lxireit.com
* These are guidance levels or targets only and not a profit
forecast and there can be no assurance that they will be met.
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END
DIVUNSSRRNUKAAR
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