Regional REIT Limited Q1 2017 Dividend Declaration (1616G)

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RNS Number : 1616G

Regional REIT Limited

25 May 2017

25 May 2017

Regional REIT Limited

Q1 2017 Dividend Declaration: dividend increased to 1.80 pence per share

Regional REIT Limited (LSE: RGL) ("Regional REIT", "the Group" or "the Company"), the UK regional office and industrial property focused REIT, today announces its dividend for the first quarter of the year, to 31 March 2017.

The Company will pay a dividend of 1.80 pence per share ("pps") for the period 1 January 2017 to 31 March 2017 (1 January 2016 to 31 March 2016: 1.75pps).

The dividend payment will be made on 14 July 2017 to shareholders on the register as at 9 June 2017. The ex-dividend date will be 8 June 2017.

It is the Company's current intention to pay three quarterly dividends at approximately this level in relation to the financial year 2017 and then a fourth quarter dividend (to be declared in early 2018) to at least manage compliance with the 90% minimum REIT distribution requirement.

The payment of dividends will remain subject to market conditions, the Company's performance, its financial position and the business outlook.

- ENDS -

Enquiries:

 
Regional REIT Limited 
Press enquiries through Headland PR 
 
Toscafund Asset Management LLP                              Tel: [phone] 
Investment Manager to the Group 
James S Johnson, Investor Relations, Regional REIT Limited 
 
London & Scottish Investments Limited                       Tel: [phone] 
Asset Manager to the Group 
Stephen Inglis 
 
Headland PR Consultancy LLP                                 Tel: [phone] 
Financial PR 
Francesca Tuckett 
 
 
 

About Regional REIT

Regional REIT Limited (LSE: RGL) is a London Stock Exchange Main Market traded specialist real estate investment trust focused on office and industrial property interests in the principal regional locations of the United Kingdom outside of the M25 motorway.

Regional REIT is managed by London & Scottish Investments, the Asset Manager, and Toscafund Asset Management, the Investment Manager, and was formed by the combination of two existing funds previously created by the Managers as a differentiated play on the expected recovery in UK regional property, to deliver an attractive total return to Shareholders and with a strong focus on income.

The Group's investment portfolio, as at 31 December 2016, was spread across 123 regional properties, 941 units and 717 tenants. As at 31 December 2016, the investment portfolio had a value of GBP502.4m and a net initial yield of 6.7%. The weighted average unexpired lease term to first break was 3.6 years.

The Company's shares were admitted to the Official List of the UK's Financial Conduct Authority and to trading on the London Stock Exchange on 6 November 2015. For more information, please visit the Group's website at www.regionalreit.com.

Cautionary Statement

This document has been prepared solely to provide additional information to Shareholders to assess the Group's performance in relation to its operations and growth potential. The document should not be relied upon by any other party or for any other reason. Any forward looking statements made in this document are done so by the Directors in good faith based on the information available to them up to the time of their approval of this document. However, such statements should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying any such forward-looking information.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 25, 2017 02:02 ET (06:02 GMT)