Dividend Declaration

RNS Number : 9530X

Triple Point Social Housing REIT

16 August 2018

 

16 August 2018

Triple Point Social Housing REIT plc

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

DIVIDEND DECLARATIONS

The Board of Directors of Triple Point Social Housing REIT plc (tickers: SOHO; SOHC) has declared the following dividends which will be payable on or around 28 September 2018 to shareholders on the register on 24 August 2018.  The ex-dividend date will be 23 August 2018. 

Ordinary Shares

The Board has declared an interim dividend in respect of the period from 1 April to 30 June 2018 of 1.25 pence per ordinary share in the Company ("Ordinary Share").

0.8125 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 0.4375 pence will be paid as an ordinary UK dividend ("non-PID").

The Company is targeting an aggregate dividend of 5 pence per Ordinary Share in respect of  the financial year ending 31 December 2018¹.

C Shares

The Board has also declared dividends payable to holders of C shares in the Company ("C Shares") comprising a fixed dividend of 3 per cent. per annum (based on a C Share price of 100 pence) pro rated for the period from admission to trading on 27 March 2018 to 30 August 2018 (being the date on which the C Shares will convert into Ordinary Shares as announced on 29 June 2018).

An aggregate amount of 1.29 pence per C Share, comprising 0.789 pence for the period from 27 March to 30 June 2018 and 0.501 pence for the period from 1 July to 30 August 2018, will be paid as ordinary UK dividends ("non-PID") to C Shareholders on or around 28 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 Management LLP (Delegated Investment Manager)	(via Newgate below)
James Cranmer
Ben Beaton
Max Shenkman
Akur Limited (Joint Financial Adviser)	Tel: [phone]
Tom Frost
Anthony Richardson
Siobhan Sergeant
Canaccord Genuity Limited (Joint Financial Adviser and Corporate Broker)	Tel: [phone]
Lucy Lewis
Denis Flanagan
Andrew Zychowski
Newgate (PR Adviser)	Tel: [phone]
James Benjamin	Em: [e-mail]
Anna Geffert
Langham Hall UK Services LLP (Company Secretary)	Em: [e-mail]

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 ("REIT") and is a constituent of the FTSE EPRA/NAREIT index.

 

END

 

 

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