Aberdeen Standard Europe... Dividends - ASLI

Aberdeen Standard Europe... Dividends - ASLI

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Stock Name Stock Symbol Market Stock Type
Aberdeen Standard European Logistics Income Plc ASLI London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-1.00 -0.83% 119.00 16:35:22
Open Price Low Price High Price Close Price Previous Close
121.00 119.50 121.00 119.00 120.00
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Aberdeen Standard Europe... ASLI Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

speedsgh: ASLI lead fund mangager, Evert Castelein, is speaking at QuotedData’s Property Webinar Series on Weds 14 July at 9.30am... HTTPS://quoteddata.com/events/quoteddatas-property-webinar-series-3/
cwa1: Solid update with NAV, rental collection, dividend information as well as one upcoming "in exclusivity" purchase that will be immediately earnings accretive:- https://www.investegate.co.uk/aberdeen-stand.euro.--asli-/rns/q1-2021-nav-and-first-interim-dividend/202105241434276252Z/
speedsgh: Goal! How a European Reit scored a deal at Real Madrid - HTTPS://citywire.co.uk/investment-trust-insider/news/goal-how-a-european-reit-scored-a-deal-at-real-madrid/a1503823 As a wall of money continues to flood into warehouse assets, Aberdeen Standard Investments’ (ASI) Evert Castelein is dodging low yields by ‘creating deals out of nothing’ and in the most unlikely places, including a Real Madrid football match. ‘It’s a bit of cliché, but property business is a local business,’ said the manager of the £301m Aberdeen Standard European Logistics (ASLI) trust. ‘If you do not speak the language and you don’t work [in the area you want to buy], then it is difficult to source the assets.’ ASI has offices dotted across Europe, with Castelein based in the Netherlands, and he believes this is key to sourcing off-market property at good prices. He said one Madrid-based member of the team sealed a deal after chatting to another football fan in the business lounge at the Real Madrid stadium Bernabeu (pictured) after a match enabling the team to do ‘an off-market deal’. ‘We can create deals out of nothing,’ said Castelein, adding that as demand logistics and warehousing has boomed during the Covid-19 pandemic, there are now ‘desperate fund managers who will pay anything’ to get these assets into their portfolios. However, Castelein said he will not lose sight of the fact that investors are looking for income and is avoiding the high-cost, low-yield properties that are currently on the market. ‘The yield obviously depends on the locations. In core locations, with brand new buildings, with long leases, and strong covenants, then the market is all over it and prices are at record levels – we are not buying those,’ he said. ‘For those, you are looking at a yield of 3.5% and we have heard rumours of assets that are closer to 3% and that is a record. We are definitely not buying those. We have a focus on a yield of 4.5%.’ While rising prices have pushed Castelein and his team to look harder for deals, it has helped the trust’s net asset value (NAV) rise 13.6% in euros in 2020 (or 20% converted into sterling). A huge 6% uplift in the final three months of the year reflected the price rises and yield compression as investors flooded the sector. With dividends included, the shares delivered a 26.6% total return, and now stand on 9% premium over NAV and a 3.3% dividend yield. ‘Logistics is a sector really benefiting from strong tailwinds and it feels like an open door at the moment,’ said Castelein. While lockdown benefited logistics across the board thanks to the boom in e-commerce, ASLI’s assets have done particularly well as it has a tenant overweight to the food sector which meant it collected 97% of rent during 2020. This allowed the trust to pay out 2020 dividends of 4.96p, in line with its target but only 88% covered by earnings per share. With logistics vacancies across the sector at a ‘fractional’ 4% and demand still high, Castelein said ‘the only way the price is going is up’. He is favouring ‘mid-sized big box’ and ‘last mile’ warehousing that will be used not only as distribution centres for e-commerce but also for ‘onshoring and building up inventory levels’. There has been a shift of manufacturing back from Asia to Europe due to a number of reasons. ‘One of the reasons for that is salaries in China have increased and the wage arbitrage [with Europe] is less profound now,’ said Castelein. He also said companies were more concerned about ‘long distance supply chains’ that were put into stark relief during the outbreak and also by the problems caused by ship blocking the Suez Canal earlier this year. ‘It makes sense for companies to look at their global footprint to they are not as susceptible to external shocks,’ he said. The major uncertainty is Office Dépot, the Reit’s seventh largest tenant and sole occupier of its Meung-sur-Loire property generating 6.4% of annual contracted rent, which fell into administration in February. The administrator has indicated that while a sale is underway rental payments should continue to be made. With demand high, Castelein is confident ASLI can still find opportunities and reach its target of £1bn. The trust currently has €65m in cash and undrawn facilities after it signed a new €40m credit facility with Investec Bank. ‘There is lots of research that says you reach optimal diversification when you have more than 20 assets,’ he said.
cwa1: Result of placing:- Result of Placing Further to the announcement of 10 March 2021, the Board of Aberdeen Standard European Logistics Income PLC (the "Company" or "ASLI") is pleased to announce that the Company proposes to issue 18.45 million new ordinary shares in the capital of the Company ("New Ordinary Shares") at a price of 105 pence per share (the "Issue"), raising gross proceeds of GBP19.4 million. The Issue was over-subscribed at the issue price and a scaling back process was undertaken.
speedsgh: Following today's news of Aberdeen Standard Investments acquiring a 60% stake in Tritax Management, the investment manager of EBOX, might this be a pre-cursor to ASLI (which focuses on smaller, last mile logistics assets with an average property size 26,500 sq m) merging with EBOX (which has much larger, big box assets; average property size 76,000 sq mbig boxes) at some point in the future?... Investment Manager Acquisition - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/investment-manager-acquisition/202012090700049893H/ The Board of Aberdeen Standard European Logistics Income PLC ("ASLI" or the "Company") notes the announcement made by the Company's investment manager, Aberdeen Standard Investments (the "Investment Manager"), in relation to the planned acquisition of a 60 per cent. ownership interest in Tritax Management LLP ("Tritax"). Tritax is a specialist logistics real estate fund manager with £5.1 billion assets under management throughout the UK and Europe. Among its mandates, Tritax manages two listed industrial logistics funds, Tritax Big Box REIT plc and Tritax EuroBox plc. The transaction is part of the Investment Manager's increased focus on logistics as a critical area of the real estate market and is expected to close in early 2021, subject to the receipt of regulatory approvals and satisfaction of customary closing conditions. Tony Roper, Chairman of the Company, commented: "The Board view the Investment Manager's acquisition of Tritax as a positive development in further enhancing their already deep logistics real estate expertise. Over the coming months, the Board will assess the expected impact of this acquisition on the Company's investment management arrangements and will provide a further update to shareholders in Q1 2021".
speedsgh: GRESB 2020 Survey Results & Polish asset agreement - HTTPS://www.londonstockexchange.com/news-article/ASLI/gresb-2020-survey-results-polish-asset-agreement/14783928 The Board of Aberdeen Standard European Logistics Income PLC (the "Company" or "ASLI") is pleased to announce that in the recently released survey of GRESB (Global Real Estate Sustainability Benchmark) the Company has been awarded four Green Stars out of a maximum of five. This compares to the previous two stars awarded in 2019. The portfolio's GRESB score of 79/100 compares very favourably against the 68/100 average score for the Western Europe Industrial Distribution Warehouse peer group which contains nineteen funds. This latest scoring reflects the progress made to date with regards to environmental, social and governance ("ESG") factors thanks to solar panel project initiatives, tenant satisfaction surveys, light sustainability audits and 100% data collection across the portfolio linked to Envizi which is used to analyse energy consumption. In addition, all buildings have LED lighting and the Investment Manager continues with plans to further enhance ESG credentials going forward. The Company also announces that it has recently signed a Letter of Intent for the purchase of a new warehouse in Poland valued at approximately €26 million. Subject to various approvals, the Investment Manager will be entering advanced due diligence with an expected closing of the transaction in Q1 2021. This 34,000 sqm warehouse is expected to provide a net initial yield of 5.5%, is well located and will be leased to six tenants with an average WAULT of more than seven years. Evert Castelein, Fund Manager to ASLI commented: "I am very pleased that the company is now able to announce the expected acquisition of what will be our third property in Poland. This brand-new warehouse, located in central Poland, is strategically located close to a container terminal with easy access to Western Europe. This will be a good addition to ASLI's portfolio using available cash and the Company's recently signed credit facility in advance of the placing of longer term debt. In addition to this, I am happy to note the latest GRESB scoring for ASLI's portfolio which underscores our desire to put ESG at the heart of everything that we do. The logistics sector continues to grow with the increasing demand from market participants for newer, quality warehousing driven by their demand for increased space both for the re-shoring of operations and to address the rise in e-commerce demands."
speedsgh: Third Interim Dividend - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/third-interim-dividend/202011241059353345G/ The Directors have today declared a third interim dividend of 1.41 euro cents (equivalent to 1.24 pence) per Ordinary share, in respect of the year ending 31 December 2020. This third interim dividend will be paid in sterling on 30 December 2020 to Ordinary shareholders on the register on 4 December 2020 (ex-dividend date of 3 December 2020). The Company intends to declare quarterly interim dividends to Shareholders, with dividends declared in respect of the quarters ending on the following dates: 31 March, 30 June, 30 September and 31 December in each year. Any such dividend payment to Shareholders may take the form of either dividend income or "qualifying interest income" which may be designated as an interest distribution for UK tax purposes and therefore subject to the interest streaming regime applicable to investments trusts. Of this third interim dividend declared of 1.24 pence per Ordinary share, 0.73 pence is declared as dividend income with 0.51 pence treated as qualifying interest income.
speedsgh: Second Interim Dividend - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/second-interim-dividend/202008251200040978X/ The Directors have today declared a second interim dividend of 1.41 euro cents (equivalent to 1.24 pence) per Ordinary share, in respect of the year ending 31 December 2020. This second interim dividend will be paid in sterling on 25 September 2020 to Ordinary shareholders on the register on 4 September 2020 (ex-dividend date of 3 September 2020)... ... Of this second interim dividend declared of 1.24 pence per Ordinary share, 0.93 pence is declared as dividend income with 0.31 pence treated as qualifying interest income.
speedsgh: "In light of the Q2 rental collection outcome and the current agreed tenant positions, it remains the Board's intention to pay quarterly dividends in line with the Company's dividend policy." from 2019 Annual Report: COMPANY DIVIDEND POLICY Subject to compliance with all legal requirements the Company intends to pay interim Sterling dividends on a quarterly basis. The Company will declare dividends in Euros, but shareholders will receive dividend payments in Sterling. The date on which the Euro/Sterling exchange rate is set will be announced at the time the dividend is declared. Distributions made by the Company may take the form of either dividend income or ‘‘qualifying interest income’’ which may be designated as interest distributions for UK tax purposes. The Company targets an annual yield of 5.0 per cent. per Ordinary Share for an investor at launch whilst continuing to aim for a total NAV return of 7.5 per cent. per annum (each in Euro terms).
speedsgh: Net Asset Value as at 31 March 2020 and Dividend Declaration - HTTPS://www.investegate.co.uk/aberdeen-stand-euro---asli-/rns/1st-interim-dividend-and-31-march-2020-nav/202005260700138344N/ · NAV per Ordinary share of 112.7c (GBp - 99.92p) as at 31 March 2020 (31 December 2019: 111.0c (GBp - 94.21p)). Exchange rate £1 : €1.13 (31 December 2019: £1 : €1.18). · Portfolio capital value has increased by 0.7% since 31 December 2019 (on a like-for-like basis including capital expenditure). The Company's well located and diversified European logistics portfolio of 14 assets was valued at €404.9 million as at 31 March 2020. · A fourth interim distribution of 1.27 pence (equivalent to 1.41 euro cents) per Ordinary share in respect of the year ended 31 December 2019 was paid on 27 March 2020. · First interim distribution of 1.41 euro cents (equivalent to 1.24 pence) per Ordinary share in respect of the year ending 31 December 2020 declared. At the valuation date of 31 March 2020 Europe was in the early stages of lockdown due to COVID-19 and the investment market had come to a near standstill. There was a lack of relevant transactional evidence and so, in line with market practice, the independent valuers report from CBRE has noted "material uncertainty" relating to property valuations. ... Q2 Rental Collection Update At the time of the last COVID-19 update, the Company announced that all rents had been collected for Q1 2020 and 67% of those due for Q2 had then been received, with twelve tenants requesting discussions around their short term financial positions. This collection figure has now increased to 75% with an expectation that this will shortly rise to 82%. Of the remaining 18% currently unpaid, representing approximately €1 million in monthly and quarterly rental payments, it has been agreed in principle that approximately €820,000 of this will be deferred, with €720,000 of this deferred rent due for payment by December 2020 and €100,000 of this due prior to June 2022. The remaining €180,000 of unpaid rent relates to six tenants who have requested rent free periods. It is expected that this rent will be forgiven for Q2, along with an additional €210,000 for the remainder of 2020 and €130,000 in respect of 2021/22, in exchange for material lease extensions. The manager is in the final stages of negotiations with these tenants and lease extensions are expected to be agreed for up to five years. As a result, the Company currently expects that it will collect approximately 95% of Q2 rental income by December 2020, with an additional 2% payable in the period to June 2022 and the remaining 3% forgiven, in exchange for material lease extensions. The Investment Manager considers this to be a positive result for shareholders and expects to conclude all of these discussions shortly. Dividends Following a thorough review of the latest rent collection statistics and the recent tenant discussions, the Board has today declared a first interim dividend in respect of the year ending 31 December 2020 of 1.41 euro cents per Ordinary share (equivalent to 1.24 pence). This will be paid in sterling on 26 June 2020 to Ordinary shareholders on the register on 5 June 2020 (ex-dividend date of 4 June 2020). Of this first interim dividend declared of 1.24 pence per Ordinary share, 1.05 pence is declared as dividend income with 0.19 pence treated as qualifying interest income. The Board, through the Investment Manager, continues to monitor the situation and the impact this is having on all of our tenants. While it remains the Board's intention to pay quarterly interim dividends in line with the dividend policy, the quantum of these distributions will ultimately depend on the ability of our tenants to maintain rental payments in line with the expected agreed terms. The Board views these terms to be favourable to both shareholders and the impacted tenants, while permitting the Company to maintain quarterly dividend payments in line with policy.
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