RDI REIT PLC Finalisation Announcement of Cash Dividend (8558R)

TIDMRDI

RNS Number : 8558R

RDI REIT PLC

01 November 2019

RDI REIT P.L.C.

("RDI" or the "Company")

(Registered number 010534V)

LSE share code: RDI

JSE share code: RPL

ISIN: IM00BH3JLY32

LEI: 2138006NHZUMMRYQ1745

FINALISATION ANNOUNCEMENT IN RESPECT OF THE SECOND CASH DIVIDEND

FOR THE YEAR ENDED 31 AUGUST 2019

RDI shareholders are referred to the announcement released on 24 October 2019 regarding the second interim dividend of 6.00 pence per share in respect of the year ended 31 August 2019 (the "cash dividend").

Shareholders are advised that the GBP to Rand conversion rate is 19.57500. Accordingly, the Rand equivalent of the cash dividend of 6.00 pence is 117.45000 ZAR cents.

Shareholders will receive the cash dividend as a Property Income Distribution ("PID"), calculated as follows:

 
                                                      Shareholders on 
                             Shareholders on the                  the 
                               UK share register    SA share register 
 PID element (gross)                        6.00            117.45000 
                            --------------------  ------------------- 
 Less 20% UK withholding 
  tax*                                      1.20             23.49000 
                            --------------------  ------------------- 
 PID element (net of 20%)                   4.80             93.96000 
                            --------------------  ------------------- 
 Less 5% SA withholding 
  tax**                                      N/A              5.87250 
                            --------------------  ------------------- 
 PID element (net of 25%)                    N/A             88.08750 
                            --------------------  ------------------- 
 

* Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.

** A 5% rebate is reclaimable from the UK's HM Revenue & Customs, resulting in an effective UK withholding tax rate of 15%. Therefore, an additional 5% South African withholding tax is to be deducted by the relevant regulated intermediary on all cash PIDs paid to persons who are not exempt from dividends tax in South Africa and paid to the South African Revenue Service on the beneficial owner's behalf. As a result, the initial withholding tax rate on cash PIDs for non-exempt South African shareholders will be 25%.

The cash dividend will be paid out of the Company's operating profits.

The salient dates for payment of the cash dividend published in the announcement dated 24 October 2019, remain unchanged.

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

For further information:

 
RDI REIT P.L.C. 
Mike Watters, Donald Grant      Tel: [phone] 
FTI Consulting 
UK Public Relations Adviser 
Dido Laurimore, Claire Turvey,  Tel: [phone] 
 Ellie Sweeney 
 [e-mail] 
Instinctif Partners 
SA Public Relations Adviser 
Frederic Cornet                  Tel: [phone] 
 [e-mail] 
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 [e-mail] or visit www.rns.com.

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November 01, 2019 03:00 ET (07:00 GMT)