GCP Student Living Dividend Declaration and Net Asset Valuation

 
TIDMDIGS 
 
GCP Student Living plc (the "Company" or "Group") 
 
Dividend Declaration and Net Asset Valuation 
 
The Board of GCP Student Living plc, the UK's first REIT focused on student 
residential assets, is pleased to announce a third interim dividend of 1.43 
pence per ordinary share, in respect of the quarter ended 31 March 2017. The 
third interim dividend will be paid on 5 June 2017 to ordinary shareholders on 
the register as at 5 May 2017. The dividend will be paid as 1.11 pence per 
ordinary share as a REIT property income distribution ("PID") in respect of the 
Group's tax exempt property rental business and 0.32 pence per ordinary share 
as an ordinary UK dividend ("non-PID"). 
 
As at close of business on 31 March 2017, the unaudited estimated EPRA net 
asset value per ordinary share of the Company was 138.43 pence. The EPRA net 
asset value includes income for the period (cum-income) and does not include a 
provision for an accrued dividend for the quarter to 31 March 2017. 
 
The EPRA net asset value (ex-income) was 137.00 pence per ordinary share as at 
that date. 
 
As at 31 March 2017, the valuation of the Company's portfolio was GBP479.1 
million. In addition, as at that date the Company had exchanged contracts to 
acquire Woburn Place, London WC1, which was subsequently purchased on 5 April 
2017 at a price of c.GBP135 million. 
 
26 April 2017 
 
 
For further information please contact: 
 
Gravis Capital Partners LLP                                 [phone] 
Tom Ward                [e-mail] 
Nick Barker              [e-mail] 
Dion Di Miceli           [e-mail] 
 
Stifel Nicolaus Europe Limited                             [phone] 
Neil Winward           [e-mail] 
Mark Young             [e-mail] 
Tom Yeadon            [e-mail] 
 
Buchanan                                                              +44 020 
7466 5000 
Charles Ryland        [e-mail] 
Vicky Watkins          [e-mail] 
 
 
About GCP Student Living plc 
 
The Company was the first student accommodation REIT in the UK, investing in 
modern, purpose-built, private student residential accommodation and teaching 
facilities. Its investments are located primarily in and around London where 
the Investment Manager believes the Company is likely to benefit from supply 
and demand imbalances for student residential accommodation. 
 
The Company's standing assets are primarily occupied by international students 
and offer high specification facilities and hotel-level concierge type services 
which the Investment Manager believes are attractive to overseas students. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 26, 2017 11:33 ET (15:33 GMT)