Dividend Declaration

RNS Number : 4434S

Empiric Student Property PLC

08 July 2015

 

8 July 2015

Empiric Student Property plc

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

Dividend declaration

The Board of Empiric Student Property plc (ticker: ESP) has declared a final interim dividend of 1.0 pence per Ordinary Share in respect of the quarter ended 30 June 2015, payable on or around 4 August 2015 to Ordinary Shareholders on the register on 17 July 2015. The ex-dividend date will be 16 July 2015.  As a result, the Company will have paid total dividends of 4.0 pence per Ordinary Share in its first financial year. 

0.32 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 0.68 pence will be paid as an ordinary UK dividend ("non-PID").

The Company confirms an annual dividend target of at least 6 pence per Ordinary Share for the financial year commencing 1 July 2015. Thereafter, dividends are expected to grow by not less than the RPI inflation index ⁽¹⁾.

Note:

(1) The target dividends stated above are targets only and not profit forecasts. There can be no assurance that these targets will be met and they should not be taken as an indication of the Company's expected or actual future results. Potential investors should not place any reliance on these targets.

For further information on the Company, please contact:

Empiric Student Property plc	(via Newgate below)
Paul Hadaway (Chief Executive)
Tim Attlee (Chief Investment Officer)
Michael Enright (Chief Financial Officer)
Akur Limited (Joint Financial Adviser)	Tel: [phone]
Tom Frost
Anthony Richardson
Siobhan Sergeant
Jefferies International Limited (Joint Financial Adviser and Broker)	Tel: [phone]
Gary Gould
Stuart Klein
Newgate (PR Adviser)	Tel: [phone]
James Benjamin	Em: [e-mail]
Sara Hourigan
Andre Hamlyn

Further information on Empiric can be found on the Company's website at www.espreit.co.uk.

Notes:

Empiric Student Property plc (incorporated in England & Wales) is an internally managed real estate investment trust ("REIT") investing in modern, direct-let, premium, student accommodation, both standing and development assets, with a focus on quality and with assets generally in prime central locations in top university cities and towns in the UK.  The Company listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in June 2014. 

 

END

 

 

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