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21 Oct 2010 07:00
Hansteen Holdings PLC
("Hansteen" or the "Company" or the "Group")
DIVIDEND DECLARATION
On 6 July 2010, Hansteen announced that it would now pay two dividends each financial year instead of the single annual payment which had been its practise.
As announced on 31 August, the Board of Hansteen has declared an interim dividend of 1.4 pence per share (2009: total dividend of 3.2 pence) which will be paid on 25 November 2010 to ordinary shareholders on the register on 29 October 2010. Of this dividend 0.56 pence per share is a REIT Property Income Distribution (PID) in respect of the Group's tax exempt property rental business.
The second dividend for the financial year to 31 December 2010 will be payable on 26 May 2011.
Further information on the tax treatment of dividends paid by the Company can be found on the Group's website at www.hansteen.co.uk/investor-centre/reit.php
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NOTES TO EDITORS
Hansteen Holdings PLC (LSE: HSTN) is a European industrial REIT that invests in properties with high yields, low financing costs and opportunity for value improvement across the Netherlands, Germany, Belgium, France and the UK.
In 2010 Hansteen increased its portfolio to 189 assets with a value of around £721.9 million through the acquisition of a German industrial property portfolio from HBI for approx. €330 million and the acquisition of the 1.2 million sq ft multi-sector Kilmartin portfolio of UK properties for £80.37 million.
In August 2009 Hansteen launched Hansteen UK Industrial Property Unit Trust (HPUT), a vehicle with up to £180 million to invest in UK industrial property with a value of £15 million or less, or portfolios under £30 million.
Founded by Morgan Jones and Ian Watson the Company listed on AIM in November 2005 raising £125 million. In 2009 it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter.
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