LXI REIT PLC 99% Q2 Rent Collection-Dividend Target Reaffirmed (2090W)
April 22 2021 - 1:00AM
UK Regulatory
TIDMLXI
RNS Number : 2090W
LXI REIT PLC
22 April 2021
22 April 2021
LXi REIT plc
(the "Company" or the "Group")
99% Q2 2021 RENT COLLECTION
DIVIDEND GUIDANCE REAFFIRMED
Q2 2021 rent collection of 99%
The Company has continued to actively engage with all of its
tenants and is pleased to report rent collection to date of 99% for
the quarter ending June 2021 (Q2 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 99.8% following receipt of short term
rent deferrals agreed with tenants.
Dividend guidance
As a result of this level of rent collection, the Board is
pleased to reaffirm its intention to pay a quarterly dividend of
1.5 pence per ordinary share for the first quarter of the financial
year that commenced 1 April 2021.
This quarterly dividend rate reflects the first of four equal
instalments that the Company is targeting for that financial year
totalling 6.0 pence per ordinary share*.
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
Luke Simpson/Liz Yong 020 7418 8900
---------------------------------
J efferies International
Ed Matthews/Tom Yeadon 020 7029 8000
---------------------------------
Maitland/AMO (Communications Adviser) 07747 113 930
James Benjamin lxireit-maitland@maitland.co.uk
---------------------------------
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 dividend of 6.0 pence per ordinary
share for the financial year that commenced on 1 April 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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