REG - Home REIT PLC - Interim dividend declaration

Home ReitAnnouncement

20/05/2021 13:25

RNS Number : 3286Z
  
Home REIT PLC
  
20 May 2021
  
 

20 May 2021
HOME REIT plc
("Home REIT" or the "Company")
INTERIM DIVIDEND DECLARATION
The Board of Home REIT plc (ticker: HOME), which funds the acquisition and creation of high-quality properties across the UK that are dedicated to providing accommodation to homeless people, today declares an interim dividend of 0.83 pence per Ordinary Share in respect of the period from 1 January 2021 to 30 April 2021, as scheduled below:



Ex-Dividend Date


3 June 2021




Record Date


4 June 2021




Payment Date


25 June 2021



 
The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business.
 
Shareholders entitled to elect to receive PID distributions without deduction for withholding tax should complete the declaration form which is available in the investors section of the Company's website www.homereituk.com and return the form to the Company's registrar Link Asset Services.
 
The Company is targeting a minimum total dividend of 2.5 pence per Ordinary Share in relation to the financial period ending 31 August 20211, in line with the Company's stated target at launch. From 1 September 2021, the Company is targeting an annual dividend of 5.5 pence per ordinary share per annum1, payable quarterly, with the potential to grow through inflation-protected long-term lease agreements, in line with the Company's stated target at launch.
 
1    The target dividend is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as indication of the Company's expected or actual future results.
 
FOR FURTHER INFORMATION, PLEASE CONTACT:



Alvarium Home REIT Advisors Limited
Jamie Beale
Gareth Jones


Via Maitland/AMO below




 


 




Alvarium Securities Limited
Mark Thompson
Eddie Nissen
Oliver Kenyon


 
+44 (0)20 7016 6711

+44 (0)20 7016 6713
+44 (0)20 7195 1448
 




Maitland/AMO (Communications adviser)
James Benjamin


+44 (0)7747 113 930
homereit-maitland@maitland.co.uk
   



The Company's LEI is: 213800A53AOVH3FCGG44.
 
For more information, please visit the Company's website: www.homereituk.com
 
About Home REIT plc
Home REIT plc seeks to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by funding the acquisition and creation of a diversified portfolio of high-quality accommodation assets across the UK which will be dedicated to providing accommodation to the homeless. The accommodation assets will be let or pre-let on very long (typically 20 to 30 years) leases, containing inflation-linked or fixed uplift rent review provisions, to registered charities, housing associations, community interest companies and other regulated organisations which have a proven operating track record in providing low-cost accommodation to the homeless and which receive housing benefit or comparable support from local or central government to fund the provision of such accommodation to the homeless.
 
There is a critical need for further accommodation for the homeless in the UK, due to an increasing homeless population and a lack of available and affordable high-quality, fit-for-purpose stock to address the problem. Local housing authorities are under a statutory duty to secure accommodation for individuals who are unintentionally homeless and in priority need but current accommodation for the homeless is limited in quantum and often sub-standard and uneconomical. 
 
The Company focuses on investing in and creating well-located properties that provide a sustainable level of rent for the tenant. Within the homeless accommodation assets, there is a focus on care, support, training and rehabilitation to provide vulnerable homeless people with the skills and confidence to find long-term accommodation and enable them to reintegrate back into society. Savings are expected to be made to local authorities and other providers of accommodation to the homeless via lower rents versus more expensive alternative accommodation.
 
The Company is listed on the premium segment of the Official List of the UK Financial Conduct Authority and its Ordinary Shares were admitted to trading on the main market of the London Stock Exchange, premium segment, on 12 October 2020.

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