Interim Dividend

RNS Number : 0606F

LXI REIT PLC

16 February 2018

 

16 February 2018

LXi REIT plc

(the "Company")

INTERIM DIVIDEND

The Board of LXi REIT plc (ticker: LXI) has declared an interim dividend in respect of the period from 1 October 2017 to 31 December 2017 of 1.0 pence per ordinary share, payable on 29 March 2018 to shareholders on the register at 2 March 2018. The ex-dividend date will be 1 March 2018.

0.9 pence of this dividend will be paid as a Property Income Distribution ("PID") and 0.1 pence will be paid as an ordinary UK dividend ("non-PID").  PID dividends are paid out of tax-exempt property rental income. Dividends paid from licence fee income that the Company receives from developers during the construction period on forward funding projects are treated as non-PID dividends.

Shareholders entitled to elect to receive PID distributions without deduction for withholding tax should complete the declaration form which is available in the Investors section of the Company's website, www.lxireit.com and returned to the Company's registrar, Link Asset Services, at The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU. 

The Company's LEI is: 2138008YZGXOKAXQVI45

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited John White (Partner, Fund Manager) Simon Lee (Partner, Fund Manager)	Via Newgate Communications
Peel Hunt LLP Luke Simpson	Tel: [phone]
Newgate Communications (PR Adviser) James Benjamin Anna Geffert	Tel: [phone] Email: [e-mail]

NOTES:

The Company 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 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 minimum annual dividend of 5 pence per ordinary share, starting from the financial period commencing 1 April 2018, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements, and is targeting a net total shareholder return of 8 per cent. plus per annum over the medium term*.

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.

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

* these are targets only and not a profit forecast and there can be no assurance that they will be met.

 

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