Share Name Share Symbol Market Type Share ISIN Share Description
Rdi Reit P.l.c. LSE:RDI London Ordinary Share IM00BH3JLY32 ORD 40P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.20 -0.95% 124.80 123.80 125.20 126.60 123.20 126.60 188,935 16:35:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 112.0 97.4 4.7 26.6 474

RDI REIT PLC Declaration of a Cash Dividend

24/10/2019 7:05am

UK Regulatory (RNS & others)


Rdi Reit P.l.c (LSE:RDI)
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TIDMRDI

RNS Number : 9356Q

RDI REIT PLC

24 October 2019

RDI REIT P.L.C.

("RDI" or the "Company" or the "Group")

(Registration number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00BH3JLY32

LEI: 2138006NHZUMMRYQ1745

DECLARATION OF A CASH DIVIDEND

The board of directors of the Company has approved a second interim dividend (the "cash dividend") of 6.00 pence per share in respect of the year ended 31 August 2019.

The cash dividend will be paid as a property income distribution ("PID") and subject to a deduction of 20% UK withholding tax unless exemptions apply.

Shareholders on the South African ("SA") share register will receive the cash dividend in Rand, based on a GBP to Rand conversion rate to be announced on or before Tuesday, 12 November 2019 (the "conversion rate").

The cash dividend is a foreign dividend (to be paid out of the United Kingdom) and will be paid out of the Company's distributable profits.

As at the date of this announcement, the Company has 380 089 923 ordinary shares of 40 pence each in issue.

SALIENT DATES AND TIMES

For shareholders on the UK share register

 
                                                                           2019 
------------------------------------------------------  ----------------------- 
 
 Announcement of the conversation rate on or before        Tuesday, 12 November 
 
 Last day to trade in order to be eligible for the       Wednesday, 20 November 
  cash dividend 
 
 Shares commence trading ex the cash dividend             Thursday, 21 November 
 
 Record date for shareholders recorded on the UK share      Friday, 22 November 
  register 
 
 Payment of the cash dividend                              Tuesday, 10 December 
 
 

Notes:

1. All dates quoted above are local dates in the UK. The above dates are subject to change. Any changes will be announced on RNS.

2. No transfer of shares between sub-registers in the UK and South Africa may take place between Tuesday, 12 November 2019 and Friday, 22 November 2019, both dates inclusive.

3. Shares may not be dematerialised or rematerialised between Wednesday, 20 November and Friday, 22 November 2019, both dates inclusive.

For shareholders on the SA share register

 
                                                                           2019 
------------------------------------------------------  ----------------------- 
 
 Announcement of the conversation rate on or before        Tuesday, 12 November 
 Last day to trade in order to be eligible for the         Tuesday, 19 November 
  cash dividend 
 
 Shares commence trading ex the cash dividend            Wednesday, 20 November 
 
 Record date for shareholders recorded on the SA share      Friday, 22 November 
  register 
 
 Payment of the cash dividend                              Tuesday, 10 December 
 
 

Notes:

4. All dates quoted above are local dates in South Africa. The above dates are subject to change. Any changes will be announced on SENS.

5. No transfer of shares between sub-registers in the UK and South Africa may take place between Tuesday, 12 November 2019 and Friday, 22 November 2019, both dates inclusive.

6. Shares may not be dematerialised or rematerialised between Wednesday, 20 November 2019 and Friday, 22 November 2019, both dates inclusive.

CASH DIVIDEND TAX IMPLICATIONS

Shareholders on the SA share register

Cash Property Income Distributions

A 20% UK withholding tax will be deducted from cash PIDs. On application by the shareholder, assuming the shareholder is the beneficial owner of the dividend and is SA resident for purposes of the SA - UK double tax agreement, a 5% rebate is claimable from UK's HM Revenue & Customs ("HMRC"), resulting in an effective UK withholding tax rate of 15%. The Company will account to HMRC in Pounds Sterling for the total UK withholding tax deducted. Settlement of any claims for refund will be calculated and settled in Pounds Sterling by HMRC.

SA dividends tax, at the rate of 20%, will apply to cash PIDs payable by the Company unless the beneficial owner of the dividend is exempt from dividends tax. Assuming that the shareholder is resident in South Africa and has the right, in terms of the double tax agreement between South Africa and the UK, to claim the 5% rebate from HMRC in respect of UK withholding tax, dividends tax at a reduced rate of 5% should be withheld. Where the shareholder is resident in the UK and has no right, in terms of the double tax agreement between South Africa and the UK, to claim the 5% rebate from HMRC in respect of the UK withholding tax, no additional dividends tax should be withheld (assuming that the shareholder is liable for UK tax on the dividend at the rate of at least 20%). Cash dividends paid to SA resident companies should be exempt from the dividends tax, subject to certain administrative requirements.

UK taxation

The receipt of the cash dividend may have tax implications for shareholders who are resident in the UK or other countries and such shareholders are advised to obtain appropriate advice from their professional advisors in this regard.

For information on PIDs and refund claims, including claim forms and guidance on how to complete them, visit http://www.rdireit.com/investors/real-estate-investment-trust.

For further information, please contact:

 
RDI REIT P.L.C. 
Mike Watters, Donald Grant      Tel: +44 (0) 20 7811 0100 
FTI Consulting 
UK Public Relations Adviser 
Dido Laurimore, Claire Turvey,  Tel: +44 (0) 20 3727 1000 
 Ellie Sweeney 
 rdireit@fticonsulting.com 
 
Instinctif Partners 
SA Public Relations Adviser 
Frederic Cornet                  Tel: +27 (0) 11 447 3030 
 RDI@instinctif.com 
JSE Sponsor 
Java Capital                    Tel: + 27 (0) 11 722 3050 
 

Note to editors:

About RDI

RDI is an income focused UK-REIT with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms.

RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return.

RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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