5 June 2019
LXi REIT plc
(the "Company" or the "Group")
FIRST INTERIM DIVIDEND
The Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, has today declared the first interim dividend in respect of the year ending 31 March 2020 of 1.4375 pence per ordinary share, payable on 23 September 2019 to shareholders on the register at 14 June 2019. The ex-dividend date will be 13 June 2019. The dividend reflects an annualised rate of 5.75 pence per ordinary share, in line with the Company's current annual dividend target*.
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.lxireit.com and returned to the Company's registrar, Link Asset Services, at The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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LXI REIT Advisors Limited John White (Partner, Fund Manager) Simon Lee (Partner, Fund Manager) |
Via Maitland/AMO |
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Peel Hunt LLP Luke Simpson |
Tel: 020 7418 8900 |
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Maitland/AMO (Communications Adviser) James Benjamin |
Tel: 020 7379 5151 |
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 broad range of tenants with strong financial 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 an annual dividend of 5.75 pence per ordinary share, starting from the financial period commenced 1 April 2019, with the potential to grow the dividend in absolute terms through upward-only inflation-protected long-term lease agreements, and is targeting a total NAV return of a minimum of 8 per cent. per annum over the medium term.*
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 Financial Conduct 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 targets only and not a profit forecast and there can be no assurance that they will be met.
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