Dividend payment

RNS Number : 2783B

Pacific Industrial & Log REIT PLC

09 January 2018

 

Pacific Industrial & Logistics REIT plc

("Pacific Industrial & Logistics" or the "Company")

Dividend payment

Pacific Industrial & Logistics, (AIM: PILR), the specialist UK industrial and logistics REIT, announces that further to the Company's statement on 22 December 2017, the interim dividend of 2.10 pence per share will be paid on 2 February 2018.

As previously announced, the dividend will be paid to shareholders as a Property Income Distribution, with a record date of 5 January 2018 and an ex-dividend date of 4 January 2018.

Following payment of the dividend the Company will have paid 3.33 pence per share to shareholders in respect of the financial year to 31 March 2018.

- Ends -

For further information contact: 

Pacific Industrial & Logistics REIT plc Richard Moffitt	[phone]
Canaccord Genuity - Nominated Adviser and Broker Simon Bridges Charlie Foster	[phone]
Montfort - Financial PR and IR adviser Nick Miles Olly Scott	[phone]

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

About Pacific Industrial & Logistics REIT

Pacific Industrial & Logistics REIT plc is a property investment company, quoted on the AIM market of the London Stock Exchange, (AIM: PILR).

The Company has been established to invest in UK based industrial and logistics properties with the objective of generating attractive dividends and capital returns for its shareholders. Its investment strategy focuses on strategically located smaller single let industrial and logistics properties servicing high-quality tenants. Investment returns will be generated by an experienced management team focusing on quality stock selection and active asset management.

A number of structural and commercial factors currently support the attractive opportunity in the last mile/regional industrial and logistics real estate sub-sectors targeted by the Company, including: strong occupier demand, (driven by the growth of e-commerce and investment by retailers in their associated supply chain) and a decline in the supply of lettable space in industrial and logistics real estate across the UK (being more than one third lower than the most recent peak of 2009).

Acquisitions are targeted in the 6.5-7.5% net initial yield bracket, (with affordable underlying rents in the region of £4.50-£5.50 per sq. ft.), on an overall LTV of 35-40% and a significant margin over financing costs, thus presenting attractive income, capital growth and total return opportunities.

 

END

 

 

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