Exchange Rate For Dividend Payment
3 January 2020
Tritax EuroBox plc
EXCHANGE RATE FOR DIVIDEND PAYMENT
On 10 December 2019, the Company declared an interim dividend in respect of the period from 1 July 2019 to 30 September 2019 of 1.00 cent per ordinary share, payable on or around 15 January 2020 to shareholders on the Register on 20 December 2019. 0.4019 cent of each 1 cent dividend per Ordinary Share will be designated as interest distribution.*
In accordance with the Company's dividend policy, dividends are declared in Euro and paid, by default, in Sterling. The Euro/Sterling exchange rate for dividend payments made in Sterling has been determined as 0.8460 resulting in an interim dividend of 0.8460 pence per Ordinary Share (of which 0.3400 pence per Ordinary Share will be designated as interest distribution*).
* As an investment trust under Chapter 4 of Part 24 of the Corporation Tax Act 2010 ("CTA 2010"), the Company has elected for the "streaming regime" (the modified UK tax treatment permitted under CTA 2010) to apply to the dividend paid in respect of "qualifying interest income" with such dividend designated by the Company as an "interest distribution", and shareholders will be taxed accordingly.
FOR FURTHER INFORMATION, PLEASE CONTACT:
+44 (0) 20 7290 1616
Jefferies International Limited
+44 (0) 20 7029 8000
Kempen & Co N.V.
Thomas ten Hoedt
+31 (0) 20 348 8500
+44 (0)20 7493 3631
Maitland/AMO (Communications Adviser)
+44 (0) 20 7379 5151
The Company's LEI is: 213800HK59N7H979QU33.
Tritax EuroBox plc invests and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.
Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.
The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.1, which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.1 over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.
1. Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on the target in deciding whether or not to invest in the Company and should not assume that the Company will make any distributions at all and should decide themselves whether or not the target is reasonable or achievable.
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