BMO Real Estate Investments Ltd Interim Dividend Announcement
03 Junio 2020 - 01:00AM
UK Regulatory
TIDMBREI
To: Company Announcements
Date: 3 June 2020
Company: BMO Real Estate Investments Limited
LEI: 231801XRCB89W6XTR23
Subject: Interim Dividend
Interim Dividend
As announced in BMO Real Estate Investments Limited's ('the Group's') trading
statement on 20 April 2020, COVID-19 is having, and is expected to continue to
have, a significant impact on the Groups rental receipts.
As at the current date, rent collection for the quarter is at 86.6 per cent
(compared to 99.7 per cent for the same period last year) which is commendable
in the current environment. Notwithstanding the level of collection, the Board
is conscious that the Group has been paying a dividend which has not been fully
covered over the course of the financial year and that expectations for the
third quarter rent collection commencing in late June will be even more
challenging. The Board therefore considers it prudent to reduce the level of
its future quarterly dividend payments in order to protect cash reserves and
the long-term value of the Group. The Board will continue to monitor closely
the impact of COVID-19 on rental receipts and earnings and keep the future
level of dividends under review.
The Group today announces a third quarterly interim dividend in respect of the
year ending 30 June 2020 at the reduced rate 0.625 pence per share, a 50 per
cent reduction on previous quarterly interim dividends. This dividend will be a
property income distribution.
The key dates for this interim dividend are as follows:
Ex-Dividend Date - 11 June 2020
Record Date - 12 June 2020
Payment Date - 30 June 2020
All Enquiries:
The Company Secretary
Northern Trust International Fund Administrations Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL
Tel: 01481 745403
Fax: 01481 745085
END
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