Dividend Declaration

RNS Number : 0136M
LXI REIT PLC
19 May 2022
 

19 May 2022

LXi REIT plc

(the "Company" or the "Group")

DIVIDEND DECLARATION

The Board of LXi REIT plc (ticker: LXI), th e specialist inflation-protected very long income REIT, is pleased to declare an interim quarterly dividend in respect of the quarter ended 31 March 2022 of 1.5 pence per ordinary share, payable on 24 June 2022 to shareholders on the register at 27 May 2022. The ex-dividend date will be 26 May 2022. This delivers on the Company's annual dividend target of 6.0 pence per ordinary share for the year to 31 March 2022.

 

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

 

The Company continues to target an annual dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022*. This represents a 5% increase over the 6.0 pence per ordinary share dividend for the year ended 31 March 2022.

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited

Simon Lee (Partner, Fund Manager)

John White (Partner, Fund Manager)

Freddie Brooks (CFO)

Via Maitland/amo



Peel Hunt LLP

Luke Simpson/Liz Yong

020 7418 8900

 


J efferies International

Ed Matthews/Tom Yeadon

020 7029 8000

 


Maitland/amo (Communications Adviser)

James Benjamin / Alistair de Kare-Silver

07747 113 930 / 020 7379 5151

lxireit-maitland@maitland.co.uk

 

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

LXI REIT plc invests in UK commercial property assets let, or pre-let, on very long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

 

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

 

The Company is targeting a dividend of 6.3 pence per ordinary share for the year which commenced on 1 April 2022*.  

 

The Company, a real estate investment trust ( " REIT " ) incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

 

The Company is a constituent of the FTSE 250, EPRA/NAREIT and MSCI indices.

 

Further information on the Company is available at www.lxireit.com

 

*  These are guidance levels or targets only and not a profit forecast. In setting this target the Board has applied sensitivities to contracted rental income that reflect the possible impact of the Covid-19 pandemic and assessed the effect of such sensitivities on the net earnings and liquidity of the Group. The target assumes that future rent collection is not materially lower than that achieved so far throughout the pandemic and the Board reserves the right to withdraw or amend guidance in the event that rent collection materially worsens.

 

There can be no assurance that this target will be met, and it should not be taken as an indication of the Group's expected future results which may be impacted by events or circumstances existing or arising after the date of this announcement.

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LXI Reit (LXI)
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