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