99% Q2 Rent Collection-Dividend Target Reaffirmed

RNS Number : 2090W

LXI REIT PLC

22 April 2021

 

22 April 2021

LXi REIT plc

(the "Company" or the "Group")

99% Q2 2021 RENT COLLECTION

DIVIDEND GUIDANCE REAFFIRMED

Q2 2021 rent collection of 99%

The Company has continued to actively engage with all of its tenants and is pleased to report rent collection to date of 99% for the quarter ending June 2021 (Q2 2021).

This figure is calculated on the basis of cash received versus contractual rent due and does not include rent deferrals. Rent collection will increase to 99.8% following receipt of short term rent deferrals agreed with tenants.

Dividend guidance

As a result of this level of rent collection, the Board is pleased to reaffirm its intention to pay a quarterly dividend of 1.5 pence per ordinary share for the first quarter of the financial year that commenced 1 April 2021.

This quarterly dividend rate reflects the first of four equal instalments that the Company is targeting for that financial year totalling 6.0 pence per ordinary share*.

FOR FURTHER INFORMATION, PLEASE CONTACT:

LXI REIT Advisors Limited Simon Lee (Partner, Fund Manager) John White (Partner, Fund Manager)	Via Maitland/AMO
Peel Hunt LLP Luke Simpson/Liz Yong	020 7418 8900
J efferies International Ed Matthews/Tom Yeadon	020 7029 8000
Maitland/AMO (Communications Adviser) James Benjamin	07747 113 930 [e-mail]

The Company's LEI is: 2138008YZGXOKAXQVI45

NOTES:

LXI REIT plc invests in UK commercial property assets let, or pre-let, on very long (typically 20 to 30 years to expiry or first break), inflation-linked leases to a wide range of strong tenant covenants across a diverse range of robust property sectors.

The Company may invest in fixed-price forward funded developments, provided they are pre-let to an acceptable tenant and full planning permission is in place. The Company will not undertake any direct development activity nor assume direct development risk.

The Company is targeting a dividend of 6.0 pence per ordinary share for the financial year that commenced on 1 April 2021.*

The Company, a real estate investment trust ( " REIT " ) incorporated in England and Wales, is listed on the premium listing segment of the Official List of the UK Listing Authority and was admitted to trading on the main market for listed securities of the London Stock Exchange in February 2017.

The Company is a constituent of the FTSE EPRA/NAREIT and MSCI indices.

Further information on the Company is available at www.lxireit.com

* These are guidance levels or targets only and not a profit forecast and there can be no assurance that they will be met.

 

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