Secure Income REIT PLC Quarterly dividend declaration (8318C)
October 22 2020 - 1:00AM
UK Regulatory
TIDMSIR
RNS Number : 8318C
Secure Income REIT PLC
22 October 2020
22 October 2020
Secure Income REIT Plc (AIM:SIR)
(the "Company")
Quarterly dividend declaration
The Board of Secure Income REIT Plc, the specialist long term
income REIT, today declares an interim quarterly dividend of 3.65
pence per share in respect of the year ending 31 December 2020.
This is consistent with the guidance included in the Company's
announcement of 23 July 2020.
As announced in July, the Company had a total cash balance of
GBP241 million at 30 June 2020 and this liquidity buffer has
allowed it to provide support to its tenants without compromising
the strength of its balance sheet. The various measures the Company
has taken to assist those tenants whose businesses were closed
during the Covid-19 lockdown have been previously announced and, as
a result of these measures, the Company's cash rent receipts will
be temporarily reduced in the 2020 and 2021 financial years. Under
the terms of the rent concessions, the Company's total rents are
expected to return to their originally contracted levels by 1
January 2022. While the level of support extended to tenants means
that maintenance of the core dividend results in its partial
funding from the Company's cash reserves, the Board considers
maintaining payment of core dividends to be appropriate in the
current circumstances.
Dividends will be payable on 27 November 2020 to shareholders on
the register on 30 October 2020 and the ex-dividend date will be 29
October 2020. The dividend will be paid as a Property Income
Distribution in respect of the Company's tax-exempt property rental
business.
For further information on the Company, please contact:
Secure Income REIT Plc +44 20 7647 7647
Nick Leslau Enquiries@SecureIncomeREIT.co.uk
Mike Brown
Sandy Gumm
Stifel Nicolaus Europe Limited
(Nominated Adviser) +44 20 7710 7600
Stewart Wallace StifelSecureIncomereit@Stifel.com
FTI Consulting +44 20 3727 1000
(PR Adviser) SecureIncomeREIT@fticonsulting.com
Dido Laurimore
Claire Turvey
Eve Kirmatzis
The Company's LEI is 213800M1VI451RU17H40.
Further information on Secure Income REIT plc is available at
www.SecureIncomeREIT.co.uk.
Dividend withholding tax deductions
Shareholders entitled to elect to receive distributions without
deduction for withholding tax should complete the declaration form
which is available in the Investor Centre of the Company's website,
www.SecureIncomeREIT.co.uk. Alternatively, the form may be
requested by email to Enquiries@SecureIncomeREIT.co.uk or by
writing to the Company Secretary, Secure Income REIT Plc, Cavendish
House, 18 Cavendish Square, London W1G 0PJ. Shareholders who
qualify for gross payments are, principally, UK resident companies,
certain UK public bodies, UK charities, UK pension schemes and the
managers of ISAs, PEPs and Child Trust Funds, in each case subject
to certain conditions. Individuals and non-UK residents do not
qualify for gross payments of distributions and should not complete
the declaration form.
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END
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