Net Asset Value and Dividend Declaration

RNS Number : 1255E

Civitas Social Housing PLC

04 May 2017

 

4 May 2017

CIVITAS SOCIAL HOUSING PLC

("Civitas" or the "Company")

Net Asset Value and Dividend Declaration

The Board of Civitas Social Housing PLC ("Board"), the first London listed REIT dedicated to investing into regulated social housing, is pleased to announce its net asset value ("NAV") for the period from IPO (18 November 2016) to 31 March 2017 ("Period"), declare its maiden dividend and publish its first Quarterly Fact Sheet.

Net Asset Value

As at the close of business on 31 March 2017, the unaudited EPRA NAV per ordinary share was 102.0 pence with a corresponding IFRS NAV of 101.3 pence per ordinary share. This represents an increase since IPO (when compared to the opening EPRA/IFRS NAV of 98.0 pence per ordinary share), of 4.1% and 3.4% respectively and reflects the independent portfolio valuation undertaken by Jones Lang LaSalle Ltd. as at 31 March 2017.

Dividend Declaration

The Board has today declared its maiden dividend in respect of the Period of 0.75 pence per ordinary share, payable on or around 31 May 2017 to shareholders on the register on 12 May 2017. The ex-dividend date will be 11 May 2017. The dividend will be paid as an ordinary UK dividend.

As noted previously, the Company is targeting a total dividend of 3.0 pence per ordinary share for the period ending 31 December 2017 and 5.0 pence per ordinary share in the year to 31 December 2018.

Progress to date

To date the Company has invested £132 million of the net IPO proceeds. The Investment Manager continues to see appropriate opportunities, is progressing due diligence on a number of potential investments and retains the objective to invest available cash in the timeframe outlined at IPO.

Quarterly Fact Sheet

The Company has today published its first Quarterly Fact Sheet for the Period which is available on the Company's website, www.civitassocialhousing.com.

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, please contact:

Civitas Housing Advisors Limited

Paul Bridge                           Tel: [phone]

Andrew Dawber                   Tel: [phone]

Cenkos Securities PLC

Sapna Shah                           Tel: [phone]

Tom Scrivens                        Tel: [phone]

Pagefield

Philip Dennis                       Tel: [phone]

David Leslie                          Tel: [phone]

Notes:

Civitas Social Housing PLC is the first Real Estate Investment Trust offering pure play exposure to social housing in England and Wales.  The Company is managed by Civitas Housing Advisors Limited.  The Company is listed on the premium listing segment of the Official List of the Financial Conduct Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in November 2016.

 

END

 

 

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