Dividend Declaration

RNS Number : 0101A

LXI REIT PLC

28 January 2022

 

28 January 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 December 2021 of 1.5 pence per ordinary share, payable on 25 March 2022 to shareholders on the register at 11 February 2022¹ (the "Dividend") The ex-dividend date will be 10 February 2022.

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

The Dividend is in line with t he Company's target dividend of 6 pence per ordinary share for the year which commenced on 1 April 2021. The Company is targeting a dividend of 6.3 pence per ordinary share for the year commencing on 1 April 2022² as previously announced.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (Partner, Fund Manager) John White (Partner, Fund Manager)	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	020 7379 5151 [e-mail]

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 commencing on 1 April 2022 and a dividend of 6 pence per ordinary share for the year which commenced on 1 April 2021².

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

1  As explained in the Company's prospectus published on 20th January 2022, the Dividend record date (11 February 2022) is prior to the target date for the issue and Admission of New Ordinary Shares pursuant to the Company's current equity raise (14 February 2022). Accordingly, holders of New Ordinary Shares issued pursuant to the Subsequent Issue will not be entitled to the dividend in respect of those shares.

2   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.

 

END

 

 

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