REG - Residential Secure - Dividend Declaration

Residential Secure IncomeAnnouncement

01/02/2023 07:16

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230201:nRSA4721Oa&default-theme=true

RNS Number : 4721O  Residential Secure Income PLC  01 February 2023

1 February 2023

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 2023 in line with the
year's target(1) of 5.16 pence per share.

 

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.

 

This dividend will be paid on 10 March 2023 to Shareholders on the register as
at 10 February 2023. The ex-dividend date is 9 February 2023.

 

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 Real Estate

 Ben Fry                                                      +44 (0) 20 7382 0900

 Brandon Holloway

 Peel Hunt LLP

 Luke Simpson                                                 +44 (0) 20 7418 8900

 Huw Jeremy

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

 Charles Gorman                                               +44 (0) 20 3995 6673

 Charlotte Francis

 Millie Steyn

 

 

About ReSI plc:

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 December 2022, including committed acquisitions, ReSI
plc's portfolio comprises 3,303 properties, with an (unaudited) IFRS fair
value of £364mn 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 senior members having an average of c.30
years' 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 £2mn of
committed acquisitions.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DIVWPURWGUPWGQG