Triple Point Social Housing REIT Dividend Update and Declaration (9571M)
14 Maggio 2020 - 4:00PM
UK Regulatory
TIDMSOHO
RNS Number : 9571M
Triple Point Social Housing REIT
14 May 2020
14 May 2020
Triple Point Social Housing REIT plc
(the "Company" or, together with its subsidiaries, the
"Group")
DIVIDEND UPDATE AND DECLARATION
Dividend Update
Following the collection of 100% of rents due for Q1 2020, the
timely collection of rents due for April 2020, and all 107 leases
that were due to increase their rents in April successfully
increasing rents in line with CPI, the Company intends to maintain
its strategy of paying a progressive dividend.
The Company is therefore targeting an aggregate dividend of 5.18
pence per Ordinary Share in respect of the financial year ending 31
December 2020(1) , an increase of 1.7 per cent on the 5.095 pence
per share paid in respect of 2019. This increase is in line with
February 2020 Consumer Price Index growth.
Dividend Declaration
The Board of Directors of Triple Point Social Housing REIT plc
(ticker: SOHO) has declared an interim dividend in respect of the
period from 1 January to 31 March 2020 of 1.295 pence per Ordinary
Share, payable on or around 26 June 2020 to holders of Ordinary
Shares on the register on 22 May 2020. The ex-dividend date will be
21 May 2020.
1.1655 pence of this dividend will be paid as a Property Income
Distribution ("PID") in respect of the Company's tax exempt
property rental business and 0.1295 pence will be paid as an
ordinary UK dividend ("non-PID").
Outlook
The COVID-19 pandemic has highlighted the value of specialised
supported housing for people with care and support needs. Such
accommodation relieves pressure on the NHS and the care sector by
enabling people to move out of institutional care settings whilst
simultaneously unlocking better outcomes for individuals by
allowing them to live more independently and as part of a
community.
Note:
(1) The target dividend is a target only and not a forecast.
There can be no assurance that the target will be met and it should
not be taken as an indication of the Company's expected or actual
future results.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management Tel: 020 7201 8989
LLP
(Delegated Investment Manager)
James Cranmer
Ben Beaton
Max Shenkman
Hanway Advisory Limited (Company Tel: 020 7201 8989
Secretary)
Luke Cheshire
Akur Capital (Financial Adviser) Tel: 020 7493 3631
Tom Frost
Anthony Richardson
Siobhan Sergeant
The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website
at www.triplepointreit.com .
NOTES:
The Company invests in primarily newly developed social housing
assets in the UK, with a particular focus on supported housing. The
assets within the portfolio are subject to inflation-linked,
long-term (typically from 20 years to 30 years), Fully Repairing
and Insuring ("FRI") leases with Approved Providers (being Housing
Associations, Local Authorities or other regulated organisations in
receipt of direct payment from local government). The portfolio
comprises investments into properties which are already subject to
an FRI lease with an Approved Provider, as well as forward funding
of pre-let developments but does not include any direct development
or speculative development.
There is increasing political pressure and social need to
increase housing supply across the UK which is creating
opportunities for private sector investors to help deliver this
housing. The Group's ability to provide forward funding for new
developments not only enables the Company to secure fit for
purpose, modern assets for its portfolio but also addresses the
chronic undersupply of suitable supported housing properties in the
UK at sustainable rents as well as delivering returns to
investors.
Triple Point Investment Management LLP (part of the Triple Point
Group) is responsible for management of the Group's portfolio (with
such functions having been delegated to it by Langham Hall Fund
Management LLP, the Company's alternative investment fund
manager.
The Company was admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange on 8 August
2017 and was admitted to the premium segment of the Official List
of the Financial Conduct Authority and migrated to trading on the
premium segment of the Main Market on 27 March 2018. The Company
operates as a UK Real Estate Investment Trust ("REIT") and is a
constituent of the FTSE EPRA/NAREIT index.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DIVUSOORRUUVAAR
(END) Dow Jones Newswires
May 14, 2020 10:00 ET (14:00 GMT)
Grafico Azioni Triple Point Social Hous... (LSE:SOHO)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Triple Point Social Hous... (LSE:SOHO)
Storico
Da Apr 2023 a Apr 2024