31 October 2019
The PRS REIT plc
(the "Company" or the "PRS REIT")
The PRS REIT, the closed-ended real estate investment trust established to invest in new-build, family homes in the Private Rented Sector, is pleased to declare an interim dividend of 1.0 pence per ordinary share in respect of the first quarter of the financial year covering 1 July 2019 to 30 September 2019.
This dividend will be payable on 29 November 2019 to shareholders on the register on 15 November 2019. The ex-dividend date will be 14 November 2019.
This dividend will comprise a Property Income Distribution ("PID") of 0.5 pence per share in respect of the Company's tax exempt property rental business, and a non-PID dividend of 0.5 pence per share.
The Company continues to target a total dividend of 5.0 pence per ordinary share1 for the current financial year to 30 June 2020.
For further information, please contact:
The PRS REIT plc
Tel: 020 3178 6378 (c/o KTZ Communications)
Sigma PRS Management Limited
Tel: 0333 999 9926
Tel: 020 7496 3000
G10 Capital Limited (part of the IQEQ Group as AIFM)
Tel: 020 3696 1302
Katie Tzouliadis, Dan Mahoney
Tel: 020 3178 6378
1 This is a target only and there can be no assurance that the target can or will be met and should not be taken as an indication of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on this target in deciding whether or not to invest in the Company or assume that the Company will make any distributions at all and should decide for themselves whether or not the target dividend yield is reasonable or achievable.
NOTES TO EDITORS
About The PRS REIT plc
The PRS REIT is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. It has raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.
About Sigma Capital Group plc
Sigma Capital Group plc ("Sigma") is a private rented sector, residential development, and urban regeneration specialist, with offices in Edinburgh, Manchester and London. Sigma's principal focus is on the delivery of large scale housing schemes for the private rented sector. It has a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors. Its subsidiary, Sigma PRS Management Limited, is Investment Adviser to The PRS REIT plc. In April 2019, Sigma launched the Sigma Scottish PRS Fund, the first dedicated vehicle to focus on the creation of new rental homes for families in the private rented sector in Scotland, and in October Sigma announced the expansion of its build-to-rent activities in London.
About Sigma PRS Management Limited
Sigma PRS Management Limited is a wholly-owned subsidiary of AIM-quoted Sigma Capital Group plc and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The Investment Manager is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953)
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