PRS REIT PLC (The) Dividend Declaration and NAV Update (5978O)
31 Enero 2019 - 01:01AM
UK Regulatory
TIDMPRSR
RNS Number : 5978O
PRS REIT PLC (The)
31 January 2019
31 January 2019
PRSR.L
The PRS REIT plc
("Company" or "PRS REIT")
Dividend Declaration and Net Asset Value ("NAV") Update
The PRS REIT, the closed-ended real estate investment trust
established to invest in new-build homes in the Private Rented
Sector ("PRS"), is pleased to declare today an interim quarterly
dividend of 1.0 pence per ordinary share in respect of the second
quarter period, covering 1 October 2018 to 31 December 2018. This
dividend will be payable on 28 February 2019 to shareholders on the
register on 8 February 2019. The ex-dividend date will be 7
February 2019.
The dividend will comprise a Property Income Distribution
("PID") of 0.5 pence per share in respect of the Company's tax
exempt property rental business and a non-PID dividend of 0.5 pence
per share. The Company continues to target a total dividend of 5.0
pence per ordinary share(1) for the year from 1 July 2018 to 30
June 2019.
As at 31 December 2018, the PRS REIT's unaudited EPRA NAV and
IFRS NAV were both 96.3 pence per ordinary share (30 June 2018:
both 98.3p per ordinary share). It should be noted that this is
after the payment of dividends that together totalled 3.5p per
ordinary share (2.5p per ordinary share on 31 August 2018, which
related to the three months to 30 June 2018, and 1.0p per ordinary
share on 30 November 2018, which related to the three months to 30
September 2018).
The PRS REIT expects to issue interim results on 12 March 2019
when it will also provide an update on trading.
In a separate announcement issued today, the PRS REIT also
reports that it has signed contracts over four additional PRS
sites.
For further information, please contact:
The PRS REIT plc Tel: 020 3178 6378 (c/o
Steve Smith, Non-executive Chairman KTZ Communications)
Sigma PRS Management Limited Tel: 0333 999 9926
Graham Barnet
Graeme Hogg
N+1 Singer Tel: 020 7496 3000
James Maxwell, James Moat, Ben Farrow
Stifel Tel: 020 7710 7600
Mark Young, Neil Winward, Gaudi Le Roux
G10 Capital Limited (AIFM) Tel: 020 3696 1302
Gerhard Grueter, Anthony Wood, Gaia Udage
KTZ Communications Tel: 020 3178 6378
Katie Tzouliadis, Dan Mahoney
NOTES TO EDITORS
About The PRS REIT plc
(www.theprsreit.com)
The PRS REIT is a closed-ended real estate investment trust
established to invest in the Private Rented Sector and to provide
shareholders with an attractive level of income together with the
potential for capital and income growth. It has raised a total of
GBP500m (gross) through its Initial Public Offering, on 31 May
2017, and a subsequent placing in February 2018. Both fundraisings
were supported by the UK Government's Homes England with direct
investments.
LEI: 21380037Q91HU97WZX58
About Sigma Capital Group plc
(www.sigmacapital.co.uk)
Sigma Capital Group plc is a private rented sector, residential
development, and urban regeneration specialist, with offices in
Edinburgh, Manchester and London. Sigma's principal focus is on the
delivery of large scale housing schemes for the private rented
sector. It has a well-established track record in assisting with
property-related regeneration projects in the public sector, acting
as a bridge between the public and private sectors. Its subsidiary,
Sigma PRS Management Limited, is Investment Adviser to The PRS REIT
plc.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly-owned subsidiary of
AIM-quoted Sigma Capital Group plc and is Investment Adviser to The
PRS REIT plc. It sources investments and manages the assets of The
PRS REIT plc and advises the Alternative Investment Fund Manager
("AIFM") and The PRS REIT plc on a day-to-day basis in accordance
with The PRS REIT plc's Investment Policy. The Investment Adviser
is an appointed representative (reference number: 776293) of the
AIFM.
(1) This is a target only and there can be no assurance that the
target can or will be met and should not be taken as an indication
of the Company's expected or actual future results. Accordingly,
potential investors should not place any reliance on this target in
deciding whether or not to invest in the Company or assume that the
Company will make any distributions at all and should decide for
themselves whether or not the target dividend yield is reasonable
or achievable.
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 or visit www.rns.com.
END
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