GCP Student Living Dividend Declaration and Net Asset Valuation

 
TIDMDIGS 
 
GCP Student Living plc 
("GCP Student" or the "Company", together with its subsidiaries the "Group") 
 
LEI: 2138004J4ID66FK38H25 
 
Net Asset Value and Dividend 
 
Net Asset Value 
 
GCP Student, the UK's first REIT focused on student residential assets, today 
announces that at close of business on 30 September 2018, the unaudited 
estimated EPRA net asset value per ordinary share of the Company was 153.02 
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 
30 September 2018. 
 
The EPRA net asset value (ex-income) was 151.49 pence per ordinary share as at 
that date, representing a quarterly increase of 2.6%. 
 
Dividend 
 
The Board is pleased to announce a first interim dividend of 1.53 pence per 
ordinary share, in respect of the quarter ended 30 September 2018. The first 
interim dividend will be paid on 17 December 2018 to ordinary shareholders on 
the register at 16 November 2018. The dividend will be paid as 1.13 pence per 
ordinary share as a REIT property income distribution ("PID") in respect of the 
Group's tax exempt property rental business and 0.40 pence per ordinary share 
as an ordinary UK dividend ("non-PID"). 
 
 
7 November 2018 
 
 
For further information please contact: 
 
Gravis Capital Management Limited            [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                [phone] 
Charles Ryland        [e-mail] 
Henry Wilson           [e-mail] 
 
 
 
 
About GCP Student 
 
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. 
 
GCP Student's property portfolio comprises ten assets with c.3,600 beds, 
including one asset which is expected to complete construction for the 2019/20 
academic year. At 30 September 2018, its property portfolio was valued at GBP 
816.8 million. 
 
The Company's standing properties are predominantly 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

November 07, 2018 02:00 ET (07:00 GMT)