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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Regional Reit Limited | RGL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.20 | -0.17% | 114.40 | 16:35:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 114.20 | 112.40 | 115.20 | 114.40 | 114.60 |
| Industry Sector |
|---|
| REAL ESTATE INVESTMENT TRUSTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 13/11/2024 | Interim | GBP | 0.022 | 21/11/2024 | 22/11/2024 | 10/01/2025 |
| 27/06/2024 | Interim | GBP | 0.022 | 19/09/2024 | 20/09/2024 | 18/10/2024 |
| 22/05/2024 | Interim | GBP | 0.012 | 30/05/2024 | 31/05/2024 | 12/07/2024 |
| 22/02/2024 | Interim | GBP | 0.012 | 29/02/2024 | 01/03/2024 | 05/04/2024 |
| 09/11/2023 | Interim | GBP | 0.012 | 16/11/2023 | 17/11/2023 | 12/01/2024 |
| 12/09/2023 | Interim | GBP | 0.012 | 21/09/2023 | 22/09/2023 | 19/10/2023 |
| 24/05/2023 | Interim | GBP | 0.0165 | 01/06/2023 | 02/06/2023 | 04/08/2023 |
| 23/02/2023 | Interim | GBP | 0.0165 | 02/03/2023 | 03/03/2023 | 06/04/2023 |
| 10/11/2022 | Interim | GBP | 0.0165 | 17/11/2022 | 18/11/2022 | 12/01/2023 |
| 24/08/2022 | Interim | GBP | 0.0165 | 01/09/2022 | 02/09/2022 | 14/10/2022 |
| 25/05/2022 | Interim | GBP | 0.0165 | 01/06/2022 | 06/06/2022 | 15/07/2022 |
| 24/02/2022 | Interim | GBP | 0.017 | 03/03/2022 | 04/03/2022 | 08/04/2022 |
| 11/11/2021 | Interim | GBP | 0.016 | 18/11/2021 | 19/11/2021 | 12/01/2022 |
| 26/08/2021 | Interim | GBP | 0.016 | 09/09/2021 | 10/09/2021 | 15/10/2021 |
| 19/05/2021 | Interim | GBP | 0.016 | 27/05/2021 | 28/05/2021 | 16/07/2021 |
| 25/02/2021 | Interim | GBP | 0.015 | 04/03/2021 | 05/03/2021 | 09/04/2021 |
| 12/11/2020 | Interim | GBP | 0.015 | 19/11/2020 | 20/11/2020 | 08/01/2021 |
| 26/08/2020 | Interim | GBP | 0.015 | 03/09/2020 | 04/09/2020 | 16/10/2020 |
| 21/05/2020 | Interim | GBP | 0.019 | 04/06/2020 | 05/06/2020 | 17/07/2020 |
| 27/02/2020 | Interim | GBP | 0.0255 | 05/03/2020 | 06/03/2020 | 09/04/2020 |
| Top Posts |
|---|
Posted at 06/1/2025 11:42 by skyship Rather lost touch with this one over recent years - thankfully!Updating REIT spreadsheet; so does anyone have a handle on the EPRA NTA nowadays. On an 8.8p dividend (4 x 2.2p) the yield now 7.6%. Looking to establish the discount. |
Posted at 21/11/2024 22:01 by master rsi Today's drop was due to X-dividend for the 2.20p on 50 days, which will be paydayEx-dividend date 21 November 2024 Payment date 10 January 2025 |
Posted at 17/11/2024 23:04 by master rsi A good move up for the last couple of days ahead of the X-dividend 2.20p next Thursday 21. |
Posted at 13/11/2024 07:26 by spectoacc Genuinely impressed how badly RGL is doing. Occupancy down to 77.5%, so barely 3/4's occupied. 2.2p qtly divi, 41.4% LTV, £353m of debt at 3.4%, 3.3% of rent in arrears.Weighted average duration 3.1 years. That 3.4% borrowing rate is going to be very different in future. Some token sales at above June NAV (£1.75m before costs, ie de minimus) & some rental uplifts where they've been able to re-let. But for all that money raised, occupancy going down from 82% to 77.5% is not good news. |
Posted at 28/9/2024 15:33 by meanreverter Based on the numbers cited in the Edison report and forecast for FY2025, a yield of 10.5% on a share price of 136p should equate to a dividend of 14.28p per share. However, the report specifically forecasts a dividend per share of 13.0p for FY2025, which is cited in three places in the report. I am unable to reconcile the two numbers, 13.0 and 14.28, the latter being close to 10% higher. Put another way, a 13p dividend is equivalent to a yield of 9.56%, rather than 10.5%, on shares at 136p.Any ideas? |
Posted at 16/7/2024 11:22 by arbus5000 even with the diluation, i think there's a dividend cut on an aggregate basis, based on the the new 2.2ps quarterly / 8.8p annual dividend.....currently : 515mln RGL shaes outstanding, a 1.2 ps dividend equates to 6.2mln or 24.7mln per year Post raise and consolidation: 161 mln shares outstanding, with a 2.2ps dividend, giving 3.5 mln or 14.2 mln per year. Unless I am missing something there looks like a 41% cut to the dividend. The interest costs on the bond should give an extra 2mln, and the residual 50mln should earn around 5% until it is spent, giving another 2.5 mln . |
Posted at 30/6/2024 14:09 by 2wild I had 12000 shares on 27 June record date.Interactive investor has allocated me 25714 Ssubscription shares. Have applied for 25710 costing £2,571. Had 20,000 day before going Ex dividend. So will receive £240 RGL dividend. Leaving £2331 due by midnight 12 July. Have just over £500 in Ii isa and could afford to put in upto another £900. Maybe i will sell 6210 RGL or top slice 1 or 2 other holdings. I think they look pretty good value at 15p going forward. Suspect massive price volatility over next few months. So no change there😉 |
Posted at 28/6/2024 13:46 by spectoacc They'll have £28m to spend on the portfolio - that's a plus - and a temporarily manageable debt load. Perhaps more importantly, they'll have a supportive major shareholder.But suggest looking at CAL, both pre and post Growthpoint, to get an idea of where RGL might go. This is a plaster cast rather than a sticking plaster, but RGL still has two broken legs. Doesn't kill them but sunny uplands there ain't - this is a rescue job. Edit - I'd expect Bridgemere to up their stake again at the next fundraise, which will likely come ahead of the bigger debt expiry. And just for ADVFNers - no, RGL didn't have enough cash on hand to repay the debt. Yes, they need a large amount of working capital to fund ongoing liabilities. Yes, you sort your debt out at least a year ahead of expiry. No, there isn't lots of alternative use value in regional offices just waiting to be unlocked. No, the Office sector isn't dead, but rents will go down (in real terms) not up, and incentives will be massive - imagine how much RGL could save if it let the 20% vacant at £0, on rates/insurance/main No, all those arguments about whether WFH was over weren't relevant. And yes, you should have seen all this coming, particularly when Edison (of all people) said RGL were looking to raise £75m at 10p. Months on, and even that wouldn't have been enough. RGL survives, the bondholders get paid out for taking the risk of not getting paid at all, and those gamblers still in can think whether to put more chips on the table with the Open Offer. Inglis continues to do very well, despite the share price being down 25% in a week, 29% in a month, 54% in 6 months, 64% in a year, 78% in 2 years, 81% in 3 years, 85% in 5 years. Heck, not including dividends. |
Posted at 27/6/2024 12:15 by mondex From Investment WeekRegional REIT (RGL) has proposed a capital raising of around £110.5m to fully repay a £50m retail bond and prevent going into potential administration or liquidation as early as August. In a stock exchange notice today (27 June), the board said the fundraise would be undertaken by way of a fully underwritten placing, overseas placing and open offer of 1.1 million new shares at an issue price of 10p per share. This represents an 82.3% discount to the last published net tangible assets per share of 56.4p at December 2023 and a 50.4% discount to last night's closing price of 20.2p. The capital raising is being fully underwritten by Bridgemere Investments, part of the Bridgemere group of companies that were the cornerstone investors in the original funds that were restructured in November 2015 to form RGL. The net proceeds of £104.7m, after approximately 5.2% fees, will be used to repay the £50m retail bond due on 6 August 2024. This will eliminate a short-term liability and reduce the constraints of coupon distributions on the bond. In addition, £26.3m of net proceeds will be used to reduce bank facilities, while the remaining £28.4m will be used to provide flexibility to fund selective capital expenditure on assets, which RGL said will enhance earnings in the near term and value in the mid to long-term. Once the fundraise is completed, the trust's loan-to-value will reduce from 56.8% to 40.6% upon completion, based on valuations as of 21 June. According to Winterflood's Emma Bird, the trust's aim to raise more than double the amount needed to repay the bond could indicate board concerns about potential breaches of other debt covenants or the ability to maintain the dividend medium-term without earnings enhancements from CapEx. The capital raising is conditional on, among other factors, the transaction resolutions being passed by shareholders at an extraordinary general meeting on 18 July. If the capital raising is not approved and the trust cannot fund the retail bond liability, it would immediately need to seek new sources of capital. Failure to secure appropriate capital could jeopardise its status as a "going concern", potentially leading to administration or liquidation. In a research note, Numis analysts Andrew Rees and Ewan Lovett-Turner have said the fundraising terms are more "punishing" than anticipated. They noted investors will likely question what other options were considered, instead of resorting to a "hugely dilutive rights issue". "There is the opportunity for existing investors to participate through the open offer, although we fear that retail investors may struggle to participate and risk the significant dilution of not participating," they said. "We calculate this will reduce the NAV by about c.55%, representing significant dilution for any investors that do not or are unable to follow their money." Citing figures from Bloomberg, Numis noted retail investors comprise a significant proportion of the shareholder register, with 13.8% held through Hargreaves Lansdown and 9.3% through interactive investor. "It can be logistically difficult for retail investors via platforms to participate and many may not understand, notice or have the funds available to back the fundraising, leaving a risk that many are significantly diluted," the analysts added. |
Posted at 27/6/2024 06:54 by fordtin “ Consolidation Ratio of one Consolidated Share for every 10 Ordinary Shares”“The Board's current intention is to pay an amount of approximately 2.2 pence per Ordinary Share (assuming the Share Consolidation becomes effective) in relation to the 2024 Q2 Dividend.” That would appear to indicate a quarterly dividend of 0.22 pence per pre-consolidation Ordinary Share. That is another huge cut; “The Company has declared the following dividends since 2015 Admission: • in respect of the period from incorporation to 31 December 2015, aggregate interim dividends of 1.00 pence per Ordinary Share; • in respect of the financial year ended 31 December 2016, aggregate interim dividends of 7.65 pence per Ordinary Share; • in respect of the financial year ended 31 December 2017, aggregate interim dividends of 7.85 pence per Ordinary Share; • in respect of the financial year ended 31 December 2018, aggregate interim dividends of 8.05 pence per Ordinary Share; • in respect of the financial year ended 31 December 2019, aggregate interim dividends of 8.25 pence per Ordinary Share; • in respect of the financial year ended 31 December 2020, aggregate interim dividends of 6.40 pence per Ordinary Share; • in respect of the financial year ended 31 December 2021, aggregate interim dividends of 6.50 pence per Ordinary Share; • in respect of the financial year ended 31 December 2022, aggregate interim dividends of 6.60 pence per Ordinary Share; • in respect of the financial year ended 31 December 2023, aggregate interim dividends of 5.25 pence per Ordinary Share; and • in respect of the period 1 January 2024 to 31 March 2024, aggregate interim dividends of 1.20 pence per Ordinary Share.” |
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