LXI REIT PLC Q1 Rent Collection/Increased Q1 dividend guidance (8466L)
January 18 2021 - 01:00AM
UK Regulatory
TIDMLXI
RNS Number : 8466L
LXI REIT PLC
18 January 2021
18 January 2021
LXi REIT plc
(the "Company" or the "Group")
98% Q1 2021 RENT COLLECTION
NEW INCREASED QUARTERLY DIVIDEND GUIDANCE
Q1 2021 rent collection of 98%
The Company has continued to actively engage with all of its
tenants and is pleased to report rent collection to date of 96% for
the quarter ending March 2021 (Q1 2021).
This figure is calculated on the basis of cash received versus
contractual rent due and does not include rent deferrals. Rent
collection will increase to 98% following receipt of rent deferrals
agreed with tenants.
New increased quarterly dividend guidance
As a result of its robust rent collection, the Board is pleased
to report that it has today increased its dividend target to 1.46
pence per share for the quarter ending 31 March 2021*. This
dividend is expected to be fully covered by net rental income for
the quarter and is a higher level than the pre-Covid quarterly
dividend rate.
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited Via Maitland/AMO
Simon Lee (Partner, Fund Manager)
John White (Partner, Fund Manager)
Peel Hunt LLP Tel: 020 7418 8900
Luke Simpson/Liz Yong
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J efferies International Tel: 020 7029 8000
Ed Matthews/Tom Yeadon
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Maitland/AMO (Communications Adviser) Tel: 07747 113 930
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 1.44 pence per
ordinary share for the quarter which commenced on 1 October 2020
and 1.46 pence per ordinary share for the quarter which commenced
on 1 January 2021*.
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
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