PRS REIT PLC (The) Dividend Declaration and Net Asset Value Update (5319O)
February 10 2021 - 1:00AM
UK Regulatory
TIDMPRSR
RNS Number : 5319O
PRS REIT PLC (The)
10 February 2021
10 February 2021
PRSR.L
The PRS REIT plc
("the Company" or "the PRS REIT")
Dividend Declaration and Net Asset Value ("NAV") Update
The PRS REIT, the closed-ended real estate investment trust that
invests in high-quality, new build, family homes in the private
rented sector ("PRS"), is pleased to declare today an interim
quarterly dividend of 1.0 pence per ordinary share in respect of
the second quarter period, covering 1 October 2020 to 31 December
2020.
This dividend, which is a non-Property Income Distribution, will
be payable on 8 March 2021 to shareholders on the register on 19
February 2021. The ex-dividend date will be 18 February 2021. The
Company continues to target a minimum total dividend of 4.0p(1) per
ordinary share for the current financial year ending 30 June
2021.
As at 31 December 2020, the PRS REIT's unaudited EPRA NAV and
IFRS NAV were both 96.1 pence per ordinary share (30 June 2020:
both 95.1p per ordinary share). This is after the payment of
dividends on 17 July 2020, 18 September 2020 and 11 December 2020,
which together totalled 3.0p per ordinary share. These payments
related respectively to the three-month periods ending 31 March
2020, 30 June 2020, and 30 September 2020.
The PRS REIT expects to issue interim results towards the end of
March, when it will also provide an update on trading.
(1) This is a target only and there can be no assurance that the
target can or will be met and should not be taken as an indication
of the Company's expected or actual future results. Accordingly,
potential investors should not place any reliance on this target in
deciding whether or not to invest in the Company or assume that the
Company will make any distributions at all and should decide for
themselves whether or not the target dividend yield is reasonable
or achievable.
For further information, please contact:
The PRS REIT plc Tel: 020 3178 6378 (c/o
Steve Smith, Non-executive Chairman KTZ Communications)
Sigma PRS Management Limited Tel: 0333 999 9926
Graham Barnet, Mike McGill
N+1 Singer Tel: 020 7496 3000
James Maxwell, James Moat, Sebastian Burke
Panmure Gordon (UK) Limited Tel: 020 7886 2500
Chloe Ponsonby (Corporate Broking), Alex Collins
(Corporate Finance)
G10 Capital Limited (part of the IQEQ Group Tel: 020 3745 2826
as AIFM)
Paul Turner
KTZ Communications
Katie Tzouliadis, Dan Mahoney
NOTES TO EDITORS
About The PRS REIT plc
www.theprsreit.com
The PRS REIT plc is a closed-ended real estate investment trust
established to invest in the Private Rented Sector and to provide
shareholders with an attractive level of income together with the
potential for capital and income growth. The Company is investing
GBP0.9bn in a portfolio of high quality homes for private rental
across the regions, having raised a total of GBP500m (gross)
through its Initial Public Offering, on 31 May 2017, and a
subsequent placing in February 2018. Both fundraisings were
supported by the UK Government's Homes England with direct
investments.
LEI: 21380037Q91HU97WZX58
About Sigma Capital Group plc
www.sigmacapital.co.uk
Sigma Capital Group plc ("Sigma") is a PRS, residential
development, and urban regeneration specialist, with offices in
Edinburgh, Manchester and London. Sigma's principal focus is on the
delivery of large scale housing schemes for the private rented
sector. The Company has a well-established track record in
assisting with property related regeneration projects in the public
sector, acting as a bridge between the public and private
sectors.
Sigma has created an unrivalled PRS platform, which sources
sites and brings together construction resource to develop them,
enabling Sigma to deliver an integrated solution to partners. As
well as sourcing sites and managing all stages of the planning and
development process, Sigma also manages the rental of completed
homes through its award-winning rental brand, 'Simple Life'.
The Company's subsidiary, Sigma PRS Management Limited, is
Investment Adviser to The PRS REIT plc. In September 2020, the
Company launched a joint venture with EQT Real Estate, the real
estate platform of global investment firm EQT to establish a GBP1bn
portfolio of high quality, new-build homes for private rental in
Greater London.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly-owned subsidiary of
AIM-quoted Sigma Capital Group plc and is Investment Adviser to The
PRS REIT plc. It sources investments and operationally manages the
assets of The PRS REIT plc and advises the Alternative Investment
Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in
accordance with The PRS REIT plc's Investment Policy. The
Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd
is an appointed representative of G10 Capital Limited, which is
authorised and regulated by the Financial Conduct Authority
(FRN:648953).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DIVDKLFBFLLEBBV
(END) Dow Jones Newswires
February 10, 2021 02:00 ET (07:00 GMT)
Prs Reit (LSE:PRSR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Prs Reit (LSE:PRSR)
Historical Stock Chart
From Apr 2023 to Apr 2024
