Triple Point Social Housing REIT Dividend Declaration (9961N)

TIDMSOHO

RNS Number : 9961N

Triple Point Social Housing REIT

14 May 2018

14 May 2018

Triple Point Social Housing REIT plc

(the "Company" or, together with its subsidiaries, the "Group")

DIVIDEND DECLARATION

The Board of Directors of Triple Point Social Housing REIT plc (tickers: SOHO and SOHC) has declared an interim dividend in respect of the period from 1 January to 31 March 2018 of 1.25 pence per ordinary share in the Company ("Ordinary Share"), payable on or around 29 June 2018 to holders of Ordinary Shares on the register on 25 May 2018. The ex-dividend date will be 24 May 2018.

0.75 pence of this dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business and 0.50 pence will be paid as an ordinary UK dividend ("non-PID").

The Company is targeting an aggregate dividend of 5 pence per Ordinary Share for the year ending 31 December 2018(1) .

Holders of C shares in the Company ("C Shares") will not participate in dividends payable to holders of Ordinary Shares. Holders of C Shares will, however, participate in a fixed dividend of 3 per cent. per annum (based on a C Share price of 100 pence), payable on a quarterly basis. The first dividend payable to holders of C Shares will be for the period from admission to trading on 27 March 2018 to 30 June 2018 which is anticipated to be paid in September 2018.

Note:

1 The target dividend is a target only and not a forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or actual future results.

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 
 Triple Point Investment           (via Newgate below) 
  Management LLP 
  (Delegated Investment Manager) 
 James Cranmer 
 Ben Beaton 
 Max Shenkman 
 
 Akur Limited (Joint Financial     Tel: [phone] 
  Adviser) 
 Tom Frost 
 Anthony Richardson 
 Siobhan Sergeant 
 
 Canaccord Genuity Limited         Tel: [phone] 
  (Joint Financial Adviser 
  and Sole Global Coordinator 
  and Bookrunner) 
 Lucy Lewis 
 Denis Flanagan 
 Andrew Zychowski 
 
 Newgate (PR Adviser)              Tel: [phone] 
 James Benjamin                    Em: [e-mail] 
 Anna Geffert 
 Patrick Hanrahan 
 Leena Patel 
 
 Langham Hall UK Services          Em: [e-mail] 
  LLP (Company Secretary) 
 
 

The Company's LEI is 213800BERVBS2HFTBC58.

Further information on the Company can be found on its website at www.triplepointreit.com.

NOTES:

The Company invests in social housing assets in the UK, with a particular focus on supported housing. The assets within the portfolio are subject to inflation-adjusted, long-term (typically from 20 years to 30 years), Fully Repairing and Insuring ("FRI") leases with Approved Providers (being Housing Associations, Local Authorities or other regulated organisations in receipt of direct payment from local government). The portfolio comprises investments into properties which are already subject to an FRI lease with an Approved Provider, as well as forward funding of pre-let developments but does not include any direct development or speculative development.

There is increasing political and financial pressure on Housing Associations to increase their housing delivery and this is creating opportunities for private sector investors to participate in the market. The Group's ability to provide forward financing for new developments not only enables the Company to secure fit for purpose, modern assets for its portfolio but also addresses the chronic undersupply of suitable supported housing properties in the UK at sustainable rents and delivering returns to investors.

Triple Point Investment Management LLP (part of the Triple Point Group) is responsible for management of the Group's portfolio (with such functions having been delegated to it by Langham Hall Fund Management LLP, the Company's alternative investment fund manager).

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 8 August 2017 and was admitted to the premium segment of the Official List of the Financial Conduct Authority and migrated to trading on the premium segment of the Main Market on 27 March 2018. The Company operates as a UK Real Estate Investment Trust.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 14, 2018 07:50 ET (11:50 GMT)