INTERIM DIVIDEND DECLARATION

RNS Number : 7766L

Home REIT PLC

15 September 2021

 

15 September 2021

HOME REIT plc

("Home REIT" or the "Company")

INTERIM DIVIDEND DECLARATION

The Board of Home REIT (ticker: HOME), which funds the acquisition and creation of high quality properties across the UK that are dedicated to providing suitable accommodation for homeless people, today declares an interim dividend of 0.84 pence per Ordinary Share in respect of the period from 1 May 2021 to 31 August 2021, as scheduled below:

Ex-Dividend Date              23 September 2021

Record Date  24 September 2021

Payment Date                    22 October 2021

The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax-exempt property rental business.

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.homereituk.com and return the form to the Company's registrar Link Asset Services.

With the declaration of today's dividend, the Company has achieved its target as set at IPO to pay a minimum total dividend of 2.5 pence per Ordinary Share for the financial period ending 31 August 2021. The entirety of the 2.5 pence per Ordinary Share declared and/or paid during the period since IPO was fully covered by the Company's earnings.

From 1 September 2021, the Company is targeting an annual dividend of 5.5 pence per Ordinary Share per annum.

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 FTI Consulting below
Alvarium Securities Limited Mark Thompson Eddie Nissen Oliver Kenyon	[phone] [phone] [phone]
FTI Consulting (Communications Adviser) Claire Turvey Eve Kirmatzis Ellie Perham-Marchant Oliver Harrison	[e-mail] [phone]

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 are dedicated to providing accommodation to homeless people. The accommodation assets are 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 homeless people and which receive housing benefit or comparable support from local or central government to fund the provision of such accommodation to homeless people.

There is a critical need for further accommodation for homeless people 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 homeless people 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 homeless people 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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