Interim Dividend Declaration

RNS Number : 0142P

Home REIT PLC

15 February 2021

 

15 February 2021

HOME REIT plc

("Home REIT" or the "Company")

INTERIM DIVIDEND DECLARATION

The Board of Home REIT plc (ticker: HOME), which funds the acquisition and creation of high-quality properties across the UK that are dedicated to providing accommodation to the homeless, today declares a maiden interim dividend of 0.83 pence per Ordinary Share in respect of the period from admission of the share capital of the Company to trading on the premium segment of the main market of the London Stock Exchange on 12 October 2020 to 31 December 2020, as scheduled below:

Ex-Dividend Date	25 February 2021
Record Date	26 February 2021
Payment Date	19 March 2021

The dividend of 0.83 pence per Ordinary Share will be paid as an ordinary UK dividend.

The Company is targeting a minimum total dividend of 2.5 pence per Ordinary Share in relation to the financial period ending 31 August 2021¹, in line with the Company's stated target at launch. From 1 September 2021, the Company is targeting an annual dividend of 5.5 pence per ordinary share per annum¹, payable quarterly, with the potential to grow through inflation-protected long-term lease agreements, in line with the Company's stated target at launch.

1  The target dividend is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as indication of the Company's expected or actual future results.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alvarium Home REIT Advisors Limited Jamie Beale Gareth Jones	Via Maitland/AMO below
Alvarium Securities Limited Mark Thompson Eddie Nissen Oliver Kenyon	[phone] [phone] [phone]
Maitland/AMO (Communications adviser) James Benjamin Rhys Jones	[phone] [e-mail]

The Company's LEI is: 213800A53AOVH3FCGG44.

For more information, please visit the Company's website: www.homereituk.com

About Home REIT plc

Home REIT plc seeks to contribute to the alleviation of homelessness in the UK, whilst targeting inflation-protected income and capital returns, by funding the acquisition and creation of a diversified portfolio of high-quality accommodation assets across the UK which will be dedicated to providing accommodation to the homeless. The accommodation assets will be let or pre-let on very long (typically 20 to 30 years) leases, containing inflation-linked or fixed uplift rent review provisions, to registered charities, housing associations, community interest companies and other regulated organisations which have a proven operating track record in providing low-cost accommodation to the homeless and which receive housing benefit or comparable support from local or central government to fund the provision of such accommodation to the homeless.

There is a critical need for further accommodation for the homeless in the UK, due to an increasing homeless population and a lack of available and affordable high-quality, fit-for-purpose stock to address the problem. Local housing authorities are under a statutory duty to secure accommodation for individuals who are unintentionally homeless and in priority need but current accommodation for the homeless is limited in quantum and often sub-standard and uneconomical.

The Company focuses on investing in and creating well-located properties that provide a sustainable level of rent for the tenant. Within the homeless accommodation assets, there is a focus on care, support, training and rehabilitation to provide vulnerable homeless people with the skills and confidence to find long-term accommodation and enable them to reintegrate back into society. Savings are expected to be made to local authorities and other providers of accommodation to the homeless via lower rents versus more expensive alternative accommodation.

The Company is listed on the premium segment of the Official List of the UK Financial Conduct Authority and its Ordinary Shares were admitted to trading on the main market of the London Stock Exchange, premium segment, on 12 October 2020.

 

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