Schroder Eur Real Est Inv Trust PLC Second Interim Dividend (8440Q)
24 Giugno 2020 - 08:01AM
UK Regulatory
TIDMSERE
RNS Number : 8440Q
Schroder Eur Real Est Inv Trust PLC
24 June 2020
24 June 2020
SECOND INTERIM DIVIDEND
Schroder European Real Estate Investment Trust plc (the
"Company") announces its second interim dividend for the year
ending 30 September 2020. In light of the ongoing market
uncertainty, the Board has reduced the next quarterly dividend to
0.925 euro cents per share, equating to 50% of the target dividend
level.
In implementing the dividend strategy, the Board has considered
the rent collection and cash position of the Company, alongside
market conditions, current asset management activity and the longer
term sustainable rental income from the portfolio. By retaining
additional cash at this time, the Company will be better positioned
to withstand the impact of Covid-19 on the portfolio. The dividend
will be kept under close review as clarity improves around the
extent of the impacts of Covid-19, including on future rental
receipts, property values and asset management initiatives.
The interim dividend payment will be made on Friday, 31 July
2020 to shareholders on the register on the record date of Friday,
17 July 2020. In South Africa, the last day to trade will be
Tuesday, 14 July 2020 and the ex-dividend date will be Wednesday,
15 July 2020. In the UK, the last day to trade will be Wednesday,
15 July 2020 and the ex-dividend date will be Thursday, 16 July
2020.
The interim dividend will be paid in sterling to shareholders on
the UK register and rand to shareholders on the South African
register. The exchange rate for determining the interim dividend
paid in rand will be confirmed by way of an announcement on Monday,
29 June 2020. UK shareholders are able to make an election to
receive dividends in euro. The form for applying for such election
can be obtained from the Company's UK registrars (Equiniti Limited)
and any such election must be received by the Company no later than
Friday, 17 July 2020. The exchange rate for determining the interim
dividend paid in sterling will be confirmed following the election
cut off date by way of an announcement on Monday, 20 July 2020.
Conversion to rand will take place on Wednesday, 1 July 2020.
Shares cannot be moved between the South African register and
the UK register between Monday, 29 June 2020 and Monday, 27 July
2020, both days inclusive. Shares may not be dematerialised or
rematerialised in South Africa between Wednesday, 15 July 2020 and
Friday, 17 July 2020, both days inclusive.
The Company has a total of 133,734,686 shares in issue on the
date of this announcement. The dividend will be distributed by the
Company (UK tax registration number 21696 04839) and is regarded as
a foreign dividend for shareholders on the South African register.
In respect of South African shareholders, dividend tax will be
withheld from the amount of the dividend noted above at the rate of
20% unless the shareholder qualifies for the exemption. Further
dividend tax information for South African shareholders will be
included in the exchange rate announcement to be made on Monday, 29
June 2020.
Enquiries:
Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Ria Vavakis
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore / Ellie Sweeney / Richard Gotla
FTI Consulting Tel: 020 3727 1000
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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