Residential Secure Income PLC Quarterly Dividend & Increased Dividend Target (1209U)
01 Diciembre 2021 - 01:00AM
UK Regulatory
TIDMRESI
RNS Number : 1209U
Residential Secure Income PLC
01 December 2021
1 December 2021
Residential Secure Income plc
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which
invests in independent retirement living and shared ownership to
deliver secure, inflation-linked returns , is pleased to announce
an increase to the dividend target to be paid in the financial year
30 September 2022. Reflecting the inflation linkage of the
portfolio and that ReSI is now fully invested with a fully covered
dividend from Q4 2021 (based on recurring income) , the dividend
target has been increased in line with September CPI of 3.1%
resulting in a new annual dividend target of 5.16 pence per
Ordinary Share to be paid in the financial year to 30 September
2022 (1) .
In line with this target ReSI has today declared a quarterly
interim dividend of 1.29 pence per Ordinary Share to be paid on 21
January 202 2 to Shareholders on the register as at 10 December
2021. The ex-dividend date is 9 December 2021.
0. 9 0 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. 39 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 profit a forecast. There can
be no assurance that this target 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
About Residential Secure Income plc
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
5.0 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 3,051 properties, with an
(unaudited) IFRS fair value as at 30 September 2021 of GBP351m [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 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 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 ,
and 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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