17 Sep 2020 07:00
17 September 2020
LXi REIT plc
(the "Company" or the "Group")
INCREASE IN DIVIDEND GUIDANCE
DIVIDEND DECLARATION
Increase in dividend guidance
The Board of LXI REIT plc (LXI) is pleased to report that, following robust rent collection for the quarter ending September 2020, it has today increased its quarterly dividend guidance by 4% to 1.35 pence per share.* This dividend is expected to be fully covered by net rental income for the quarter.
Dividend declaration
The Board is pleased to declare today an interim quarterly dividend in respect of the quarter ended 30 June 2020 of 1.30 pence per ordinary share, in line with the previous quarterly dividend guidance issued in May 2020.
The dividend will be payable on 16 October 2020 to shareholders on the register at 25 September 2020. The ex-dividend date will be 24 September 2020.
FOR FURTHER INFORMATION, PLEASE CONTACT:
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/Liz Yong | Tel: 020 7418 8900 |
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Maitland/AMO (Communications Adviser) James Benjamin | Tel: 020 7379 5151 Email: lxireit-maitland@maitland.co.uk |
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 quarterly dividend of 1.35 pence per ordinary share for the quarter that commenced 1 July 2020.* It will continue to monitor the improving visibility on its future rent collection as the UK moves out of lockdown and is keeping its dividend guidance under careful review on a quarterly basis.
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.