Residential Secure Income PLC Dividend Declaration - 3Q 2021 (8310G)
29 Julio 2021 - 1:01AM
UK Regulatory
TIDMRESI
RNS Number : 8310G
Residential Secure Income PLC
29 July 2021
29 July 2021
Residential Secure Income plc
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which
invests in affordable Shared Ownership, retirement and local
authority housing, is pleased to declare an interim dividend of
1.25 pence per Ordinary Share for the period from 1 April 2021 to
30 June 2021.
The full dividend of 1.25 pence will be paid as an Ordinary UK
dividend ("non-PID "). The dividend will be paid on 31 August 2021
to Shareholders on the register as at 6 August 2021. The
ex-dividend date is 5 August 2021.
With this interim dividend, the Company will have paid 3.75
pence per Ordinary Share for the financial year ended 30 September
2021, in line with the target 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 / TradeRisks
Limited
Ben Fry
Alex Pilato +44 (0) 20 7382 0900
Jefferies International Limited
Stuart Klein
Tom Yeadon +44 (0) 20 7029 8000
KL Communications 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) listed on the premium segment of the Main
Market of the London Stock Exchange with the objective of
delivering secure inflation linked returns by investing in
affordable shared ownership, retirement and Local Authority housing
throughout the UK.
ReSI targets a secure, long-dated, inflation-linked dividend of
5.0 pence per share p.a. (paid quarterly) and a total return in
excess of 8.0% per annum. Including recent committed acquisitions,
ReSI's portfolio comprises 3,059 properties, with an (unaudited)
IFRS fair value of GBP348m [i] .
ReSI aims to make a meaningful contribution to alleviating the
UK housing shortage by 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 new 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 four 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 15 members and growing, with an average of 20
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
Further information on Gresham House is available at
www.greshamhouse.com
[i] excluding the finance lease gross up and including committed
acquisitions
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END
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