REG - Residential Secure - Dividend Declaration

Kenedix Residential Next InvestmentAnnouncement

24/05/2022 08:15

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RNS Number : 5185M  Residential Secure Income PLC  24 May 2022

24 May 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 the second interim dividend of 1.29 pence per
Ordinary Share to be paid in the financial year to 30 September 2022.

 

The full 1.29 pence of the dividend will be paid as a Property Income
Distribution ("PID") in respect of the Company's tax-exempt property rental
business.

 

The dividend will be paid on 11 July 2022 to Shareholders on the register as
at 6 June 2022. The ex-dividend date is 1 June 2022.

 

With this interim dividend, the Company will have paid 3.87 pence per Ordinary
Share during the financial year ended 30 September 2022, in line with the 5.16
pence per share target(1) 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 / Gresham House Housing

 Ben Fry                                                  +44 (0) 20 7382 0900

 Brandon Holloway

 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

 Charlotte Francis

 Millie Steyn

 

Notes:

Residential Secure Income plc ("ReSI 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 plc targets a secure, long-dated, inflation-linked dividend of 5.16 pence
per share p.a. i  (#_edn1)  (paid quarterly) and a total return in excess of
8.0% per annum. As at 31 March 2022, including committed acquisitions, ReSI
plc's portfolio comprises 3,233 properties, with an (unaudited) IFRS fair
value of £375m ii  (#_edn2) .

 

ReSI plc'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 plc'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.

 

About Gresham House and Gresham House Real Estate

 

Gresham House 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.

 

Gresham House Real Estate has an unparalleled track record in the affordable
housing sector over 20 years, with a 30-strong housing investment team with an
average of 20 years' relevant experience.

 

Gresham House Real Estate offers long term equity investments into UK housing,
through listed and unlisted housing investment vehicles, each focused on
addressing different areas of the affordable housing problem. Each fund aims
to deliver stable and secure inflation-linked returns whilst providing social
and environmental benefits to its residents, the local community, and the
wider economy.

 

Further information on ReSI plc 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  (#_ednref1) The dividend target and total return target are targets only
and are not profit forecasts. There can be no assurance that either target
will be met and they should not be taken as an indication of the Company's
future results.

 

 ii  (#_ednref2) excluding the finance lease gross up and including £25mn of
committed acquisitions

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