BMO Real Estate Investments Ltd Interim Dividend Announcement

 
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: [phone] 
Fax: [phone] 
 
 
 
 
 
END 
 

(END) Dow Jones Newswires

June 03, 2020 02:00 ET (06:00 GMT)