REG - Residential Secure - Dividend Declaration

Jefferies FinancialAnnouncement

27/01/2022 08:05

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RNS Number : 7742Z  Residential Secure Income PLC  27 January 2022

27 January 2022

Residential Secure Income plc

Dividend Declaration

 

Residential Secure Income plc (LSE: RESI), which invests in independent
retirement living and shared ownership to deliver secure, inflation-linked
returns, is pleased to declare an interim dividend of 1.29 pence per Ordinary
Share to be paid in the financial year to 30 September 2022(i).

 

The dividend will be paid on 4 March 2022 to shareholders on the register as
at 4 February 2022. The ex-dividend date is 3 February 2022.

 

With this interim dividend, ReSI will have paid 2.58 pence per Ordinary Share
during the financial year ended 30 September 2022, in line with the 5.16 pence
per share target(1) to be paid in the year.

 

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 0.69 pence will be paid as an Ordinary UK dividend ("non-PID")

 

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.

 

(1) This is a target only and not a profit forecast. There can be no
assurance that this target will be met.

 

For further information, please contact:

 

 ReSI Capital Management Limited / Gresham House Housing

 Ben Fry                                                  +44 (0) 20 7382 0900

 Alex Pilato

 Jefferies International Limited

 Stuart Klein                                             +44 (0) 20 7029 8000

 Tom Yeadon

 KL Communications                                        gh@kl-communications.com (mailto:gh@kl-communications.com)

 Charles Gorman                                           +44 (0) 20 3995 6673

 Will Sanderson

 Millie Steyn

 

Notes to Editors

Residential Secure Income plc (LSE: RESI) is a real estate investment trust
(REIT) focused on delivering secure, inflation-linked returns with a focus on
two resident sub-sectors in UK residential - independent retirement rentals
and shared ownership - underpinned by an ageing demographic and untapped and
strong demand for affordable home ownership.

 

ReSI targets a secure, long-dated, inflation-linked dividend of 5.16 pence per
share p.a. (paid quarterly) and a total return in excess of 8.0% per annum.
Including recently committed acquisitions, ReSI's portfolio comprises 3,050
properties, with an (unaudited) IFRS fair value as at 31 December 2021 of
£351m i .

 

ReSI's purpose is to deliver affordable, high quality, safe homes with great
customer service and long-term stability of tenure for residents. We achieve
this through 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 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 managers.

 

ReSI is managed by ReSI Capital Management Limited, whose immediate parent
company, TradeRisks Limited, has been active within the social housing sector
for over 20 years as a funding arranger and advisor and, over the last five
years, as an investor through ReSI.

 

ReSI Capital Management and its parent, TradeRisks, were acquired by Gresham
House in March 2020, further increasing the investment expertise available to
ReSI. The housing investment team at Gresham House has 19 members and growing,
with an average of 18 years' relevant experience, covering fund management,
housing investment, social housing management and financial and risk
expertise.

 

Gresham House plc is a London Stock Exchange quoted specialist alternative
asset manager committed to operating responsibly and sustainably, taking the
long view in delivering sustainable investment solutions.

 

Further information on ReSI is available at www.resi-reit.com
(http://www.resi-reit.com/) , and further information on Gresham House is
available at www.greshamhouse.com (http://www.greshamhouse.com)

 

 

 i  excluding the finance lease gross up and including committed acquisitions
of £7m

 

 

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