TIDMRESI
RNS Number : 1995H
Residential Secure Income PLC
02 December 2020
2 December 2020
Residential Secure Income plc
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which
invests in affordable Shared Ownership, retirement and local
authority housing, is pleased to declare an interim dividend of
1.25 pence per Ordinary Share for the period from 1 July 2020 to 30
September 2020.
0.60 pence of the dividend will be paid as a Property Income
Distribution ("PID") in respect of the Company's tax exempt
property rental business and 0.65 pence will be paid as an Ordinary
UK dividend ("non-PID"). The dividend will be paid on 8 January
2021 to Shareholders on the register as at 11 December 2020. The
ex-dividend date is 10 December 2020.
With this interim dividend, the Company will have paid 5.00
pence per Ordinary Share for the financial year ended 30 September
2020, in line with the target for the year.
Over time, ReSI expects its dividends to increase broadly in
line with inflation, and targets a total return in excess of 8% per
annum (1) . ReSI intends to pay dividends to Shareholders on a
quarterly basis and in accordance with the REIT regime.
(1) These are targets only and not a profit forecast. There can
be no assurance that the targets will be met.
For further information, please contact:
ReSI Capital Management Limited / TradeRisks
Limited
Ben Fry
Alex Pilato +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Tom Yeadon +44 (0) 20 7029 8000
KL Communications gh@kl-communications.com
Charles Gorman +44 (0) 20 3995 6673
Camilla Esmund
Alex Hogan
About Residential Secure Income plc
Residential Secure Income plc (LSE: RESI) is a real estate
investment trust (REIT) listed on the premium segment of the Main
Market of the London Stock Exchange with the objective of
delivering secure inflation linked returns by investing in
affordable shared ownership, retirement and local authority housing
throughout the UK.
ReSI targets a secure, long-dated, inflation-linked dividend of
5.0 pence per share p.a. (paid quarterly) and a total return in
excess of 8.0% per annum. ReSI's portfolio comprises 2,708
properties, with an IFRS fair value as at 30 September 2020 of
GBP302m.
ReSI aims to make a meaningful contribution to alleviating the
UK housing shortage by meeting demand from housing developers
(Housing Associations, Local Authorities and private developers)
for long-term investment partners to accelerate the development of
socially and economically beneficial new affordable housing.
ReSI's subsidiary, ReSI Housing Limited, is registered as a
for-profit Registered Provider of Social Housing, and so provides a
unique proposition to its housing developer partners, being a
long-term private sector landlord within the social housing
regulatory environment. As a Registered Provider, ReSI Housing can
acquire affordable housing subject to s106 planning restrictions
and housing funded by government grant.
Acquisitions by ReSI are limited to homes with sufficient
cashflows, counterparty credit quality and property security to be
capable of supporting long--term investment grade equivalent debt.
ReSI does not manage or operate stock and uses experienced and
credit-worthy third-party managers.
ReSI is managed by ReSI Capital Management Limited, a wholly
owned subsidiary of TradeRisks Limited which has a 19-year track
record of executing transactions within the UK social housing
sector and, to date, has arranged funding of over GBP11 billion in
the social housing, care and other specialist residential property
sectors.
TradeRisks Limited and ReSI Capital Management Limited were
acquired on 4 March 2020 by Gresham House plc.
About Gresham House plc
Gresham House is a specialist alternative asset management
group, dedicated to sustainable investments across a range of
strategies, with expertise across forestry, housing,
infrastructure, renewable energy and battery storage, public and
private equity.
Our origins stretch back to 1857, while our focus is on the
future and the long term. Quoted on the London Stock Exchange
(GHE:LN) we actively manage c.GBP3.3bn of assets on behalf of
institutions, family offices, charities and endowments, private
individuals and their advisers. We act responsibly within a culture
of empowerment that encourages individual flair and entrepreneurial
thinking.
As a signatory to the UN-supported Principles for Responsible
Investment (PRI), our vision is to always make a positive social or
environmental impact, while delivering on our commitments to
shareholders, employees and investors.
Further information on ReSI is available at www.resi-reit.com ,
and further information on Gresham House is
available at www.greshamhouse.com
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