Residential Secure Income PLC Dividend Declaration (4721O)

TIDMRESI

RNS Number : 4721O

Residential Secure Income PLC

01 February 2023

1 February 2023

Residential Secure Income plc

Dividend Declaration

Residential Secure Income plc (LSE: RESI), which invests in independent retirement living and shared ownership to deliver secure, inflation-linked returns, is pleased to declare an interim dividend of 1.29 pence per Ordinary Share to be paid in the financial year to 30 September 2023 in line with the year's target(1) of 5.16 pence per share.

The full 1.29 pence of the dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax-exempt property rental business.

This dividend will be paid on 10 March 2 023 to Shareholders on the register as at 10 February 2023. The ex-dividend date is 9 February 2023.

Over time, ReSI expects its dividends to increase broadly in line with inflation, and targets a total return in excess of 8% per annum(1) . ReSI intends to pay dividends to Shareholders on a quarterly basis and in accordance with the REIT regime.

(1) These are targets only and not a profit forecast. There can be no assurance that the targets will be met.

For further information, please contact:

 
  ReSI Capital Management Limited / Gresham 
   House Real Estate 
   Ben Fry 
   Brandon Holloway                               [phone] 
  Peel Hunt LLP 
   Luke Simpson 
   Huw Jeremy                                     [phone] 
  KL Communications                             [e-mail] 
   Charles Gorman                                [phone] 
   Charlotte Francis 
   Millie Steyn 
 

About ReSI plc:

Residential Secure Income plc ("ReSI plc" LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two resident sub-sectors in UK residential - independent retirement rentals and shared ownership - underpinned by an ageing demographic and untapped and strong demand for affordable home ownership.

ReSI plc targets a secure, long-dated, inflation-linked dividend of 5.16 pence per share p.a. [i] (paid quarterly) and a total return in excess of 8.0% per annum. As at 31 December 2022, including committed acquisitions, ReSI plc's portfolio comprises 3,303 properties, with an (unaudited) IFRS fair value of GBP364mn [ii] .

ReSI plc's purpose is to deliver affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents. We achieve this through meeting demand from housing developers, housing associations, local authorities, and private developers for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing.

ReSI plc's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of social housing, and so provides a unique proposition to its housing developer partners, being a long-term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

About Gresham House and Gresham House Real Estate

Gresham House is a London Stock Exchange quoted specialist alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

Gresham House Real Estate has an unparalleled track record in the affordable housing sector over 20 years, with senior members having an average of c.30 years' experience.

Gresham House Real Estate offers long term equity investments into UK housing, through listed and unlisted housing investment vehicles, each focused on addressing different areas of the affordable housing problem. Each fund aims to deliver stable and secure inflation-linked returns whilst providing social and environmental benefits to its residents, the local community, and the wider economy.

Further information on ReSI plc is available at www.resi-reit.com , and further information on Gresham House is available at www.greshamhouse.com

[i] The dividend target and total return target are targets only and are not profit forecasts. There can be no assurance that either target will be met, and they should not be taken as an indication of the Company's future results.

[ii] Excluding the finance lease gross up and including GBP2mn of committed acquisitions.

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February 01, 2023 02:01 ET (07:01 GMT)