Dividend declaration and guidance reaffirmed
23 November 2020
LXi REIT plc
(the "Company" or the "Group")
DIVIDEND DECLARATION AND DIVIDEND GUIDANCE REAFFIRMED
As guided in its announcement on 17 September 2020, the Board of LXi REIT plc (ticker: LXI), the specialist inflation-protected very long income REIT, is pleased to declare an interim quarterly dividend in respect of the quarter ended 30 September 2020 of 1.35 pence per ordinary share, payable on 30 December 2020 to shareholders on the register at 4 December 2020. The ex-dividend date will be 3 December 2020.
The dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business.
Forward looking dividend guidance
As announced on 5 October 2020, the Board reaffirms that it is targeting a dividend of 1.44 pence per ordinary share for the quarter that commenced on 1 October 2020, as a result of its 97% rent collection, an increase of 6% on the previous quarter dividend declared today.
FOR FURTHER INFORMATION, PLEASE CONTACT:
LXI REIT Advisors Limited
Simon Lee (Partner, Fund Manager)
John White (Partner, Fund Manager)
Peel Hunt LLP
Luke Simpson/Liz Yong
Tel: 020 7418 8900
Ed Matthews/Tom Yeadon
Tel: 020 7029 8000
Maitland/AMO (Communications Adviser)
James Benjamin/Rhys Jones
Tel: 07747 113 930
Email: [email protected]
The Company's LEI is: 2138008YZGXOKAXQVI45
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 1.44 pence per ordinary share for the quarter that commenced on 1 October 2020*.
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 250, 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.