Regional REIT (LSE: RGL), the regional real estate investment specialist focused on building a diverse portfolio of income producing regional UK core and core plus office and industrial property assets, today announces its Q4 2019 dividend, making a 2.5% increase for the 2019 full year dividend distributions to shareholders.
The Company will pay a dividend of 2.55 pence per share ("pps") for the period 1 October 2019 to 31 December 2019. The dividend payment will be made on 9 April 2020 to shareholders on the register as at 6 March 2020. The ex-dividend date will be 5 March 2020. The entire dividend will be paid as a REIT property income distribution ("PID").
This fourth quarter dividend marks the Company's successful achievement of its annual distribution target, having paid a dividend of 1.90pps for each of the first three quarters of 2019.
In respect of the financial year 2019, Regional REIT has declared dividends amounting to 8.25pps. This increase of 2.5% from the 2018 full year dividend of 8.05pps has been made in accordance with the Company's intention to pursue a progressive dividend policy.
Stephen Inglis, CEO of London and Scottish Property Investment Management, the Asset Manager, commented:
"We are delighted to announce our fourth quarter 2019 dividend of 2.55pps, which is in-line with our full year 2019 target of 8.25pps.
Our 2019 preliminary results will be announced on the 26th March 2020, and we expect both EPRA earnings per share and EPRA net asset value per share to be in line with market expectations.
As previously announced, we are considering an equity fundraise to take advantage of the near term pipeline of accretive growth opportunities in the investment market, and we look forward to updating our shareholders in due course."