Real Estate Investors PLC First Quarterly Dividend Declaration (7113B)
June 20 2016 - 8:12AM
UK Regulatory
TIDMRLE
RNS Number : 7113B
Real Estate Investors PLC
20 June 2016
20 June 2016
Real Estate Investors plc
('REI' or 'the Company')
Progressive Dividend Policy
First Quarterly Dividend Declaration
Real Estate Investors plc (AIM:RLE), the Birmingham based
property group and UK listed Real Estate Investment Trust ('REIT'),
is pleased to confirm that, in accordance with the Company's
progressive dividend policy, it will pay its first quarterly
dividend of 0.625 pence per share, for the period 1 January 2016 to
31 March 2016. The payment will be made on 29 July 2016 to all
shareholders on the register as at 1 July 2016. The ex-dividend
date will be 30 June 2016.
The Company currently intends to pay three further quarterly
dividends at this level in relation to the 2016 financial year. The
Company will continue to manage its compliance with the 90% minimum
REIT distribution requirements and will make any adjustment, as
necessary, to the fourth quarterly dividend (which will be
announced in March 2017).
Paul Bassi, CEO of REI, commented: "In accordance with our
previously stated objective of a progressive dividend policy and a
quarterly payment structure, we are pleased that our dividend per
share continues to grow. The Company's contracted rental income has
grown 32% to GBP15.7m since the 2015 year end and REI has
significant additional capital from rental income, property sales
and bank facilities to continue to grow the portfolio, capitalise
on the market opportunity and generate additional rental income to
support our progressive dividend policy going forward."
Ends.
Real Estate Investors plc
Paul Bassi +44 (0)121 212 3446
Smith & Williamson Corporate
Finance Limited
Azhic Basirov/David Jones +44 (0)20 7131 4000
Liberum
Jamie Richards/Tom Fyson +44 (0)20 3100 2000
Gable Communications Limited +44 (0)20 7193 7463
John Bick +44 (0)7872 061007
rei@gablecommunications.com
About Real Estate Investors plc
Real Estate Investors plc is a publicly quoted property
investment company with a portfolio of over 1,000,000 sq ft of
commercial property managed by a highly experienced property team
with over 100 years of combined experience of operating in the
Midlands property market across all sectors.
The Company's strategy is to invest in well located, real estate
assets in the established and proven markets of central Birmingham
and the Midlands, with income and capital growth potential,
realisable through active portfolio management, refurbishment,
change of use and lettings. The portfolio has no material reliance
on a single asset or occupier.
On 1st January 2015, the Company converted to a REIT. Real
Estate Investment Trusts are listed property investment companies
or groups not liable to corporation tax on their rental income or
capital gains from their qualifying activities.
The Company aims to deliver capital growth and income
enhancement from its assets with the view to implementing a
progressive dividend policy. Further information on the Company can
be found at www.reiplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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