Yew Grove REIT PLC Q1 2021 Dividend (8559U)
08 Abril 2021 - 6:22AM
UK Regulatory
TIDMYEW
RNS Number : 8559U
Yew Grove REIT PLC
08 April 2021
Yew Grove REIT plc
(the "Company" or "Yew Grove ")
Q1 2021 Dividend
Yew Grove REIT plc (LSE:YEW, Euronext:YEW), which owns a
diversified portfolio of Irish commercial property assets,
announces that the Board of Directors has approved the payment of
an interim ordinary dividend in respect of the first quarter of
2021 (being the period from 1 January to 31 March) of 1.25 cents
per ordinary share.
This dividend will be paid on 4 May 2021 to shareholders on the
register on 16 April 2021, with a corresponding ex-dividend date of
15 April 2021.
The Board recognises the importance of quarterly dividends for
shareholders. This interim ordinary dividend is consistent with the
Company's target of paying a consistent and sustainable quarterly
dividend. Under the Irish REIT rules the Company is required to
have its shares listed on a regulated market within three years,
this is expected to be achieved in H1 2021. All of the
non-recurring costs of listing on the regulated market of Euronext
Dublin have been accrued and have reduced the quarter's Property
Income Distribution ("PID") to 0.54c per share, the balance of
0.71c per share is being paid from Q1 unrealised non rental
profits. On an ongoing basis, the dividend is underpinned by a
high-quality rent roll, the capture of increasing reversion through
rent reviews and effective asset management that has reduced
vacancy.
For further information contact:
Yew Grove REIT plc +353 1 485 3950
Jonathan Laredo, Chief Executive Officer
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Charles Peach, Chief Financial Officer
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Michael Gibbons, Chief Investment Officer
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Goodbody Stockbrokers UC +353 1 667 0400
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Joint Broker & Euronext Growth Advisor
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David Kearney, John Flynn, Edel O'Reilly
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Liberum Capital Limited
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Joint Broker & Nomad +44 20 3100 2000
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Richard Crawley, Jamie Richards
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IFC Advisory Limited +44 203 934 6630
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Financial PR yewgrovereit@investor-focus.co.uk
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Tim Metcalfe, Graham Herring
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Forward-looking Statements
Certain information contained in this announcement may
constitute forward looking information. This information relates to
future events or occurrences or the Company's future performance.
All information other than information of historical fact is
forward looking information. The use of any of the words
"anticipate", "plan", "continue", "estimate", "expect", "may",
"will", "project", "should", "believe", "predict" and "potential"
and similar expressions are intended to identify forward looking
information. This information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. No assurance can be given that this
information will prove to be correct and such forward looking
information included in this announcement should not be relied
upon. Forward-looking information speaks only as of the date of
this announcement. The forward-looking information included in this
announcement is expressly qualified by this cautionary statement
and is made as of the date of this announcement. The Company and
its group does not undertake any obligation to publicly update or
revise any forward-looking information except as required by
applicable securities laws.
Notes to editors
Yew Grove REIT plc, quoted on the London Stock Exchange's AIM
market and on the Euronext Growth Market in Dublin, is an Irish
commercial real estate company invested in a diversified portfolio
of Irish commercial property. Yew Grove has a particular focus on
well-tenanted commercial real estate assets comprising of office
and industrial assets outside of Dublin's Central Business
District.
Yew Grove's highly experienced team has a proven track record in
commercial property investment and asset management in Ireland and
internationally and is focused on delivering results. Its
investment approach is strategic, not speculative, principally on
assets that are let, pre-let or to be let after refurbishment.
Shareholders are provided with stable, long-term income from a
diverse portfolio of commercial property comprising well-tenanted
real estate in strategic centres let to Irish government entities
and other state bodies, IDA Ireland supported and other FDI
companies, and larger corporates.
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END
DIVFLFFLSIITIIL
(END) Dow Jones Newswires
April 08, 2021 07:22 ET (11:22 GMT)
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