Residential Sec Regulatory News (RESI)

2 December 2020

Residential Secure Income plc

Dividend Declaration

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable Shared Ownership, retirement and local authority housing, is pleased to declare an interim dividend of 1.25 pence per Ordinary Share for the period from 1 July 2020 to 30 September 2020.

0.60 pence of the dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business and 0.65 pence will be paid as an Ordinary UK dividend ("non-PID"). The dividend will be paid on 8 January 2021 to Shareholders on the register as at 11 December 2020. The ex-dividend date is 10 December 2020.

With this interim dividend, the Company will have paid 5.00 pence per Ordinary Share for the financial year ended 30 September 2020, in line with the target for the year.

Over time, ReSI expects its dividends to increase broadly in line with inflation, and targets a total return in excess of 8% per annum1. ReSI intends to pay dividends to Shareholders on a quarterly basis and in accordance with the REIT regime.

1 These are targets only and not a profit forecast. There can be no assurance that the targets will be met.

For further information, please contact:

About Residential Secure Income plc

Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) listed on the premium segment of the Main Market of the London Stock Exchange with the objective of delivering secure inflation linked returns by investing in affordable shared ownership, retirement and local authority housing throughout the UK.

ReSI targets a secure, long-dated, inflation-linked dividend of 5.0 pence per share p.a. (paid quarterly) and a total return in excess of 8.0% per annum. ReSI's portfolio comprises 2,708 properties, with an IFRS fair value as at 30 September 2020 of £302m.

ReSI aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (Housing Associations, Local Authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial new affordable housing.

ReSI's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of Social Housing, and so provides a unique proposition to its housing developer partners, being a long-term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

Acquisitions by ReSI are limited to homes with sufficient cashflows, counterparty credit quality and property security to be capable of supporting long‑term investment grade equivalent debt. ReSI does not manage or operate stock and uses experienced and credit-worthy third-party managers. 

ReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 19-year track record of executing transactions within the UK social housing sector and, to date, has arranged funding of over £11 billion in the social housing, care and other specialist residential property sectors.

TradeRisks Limited and ReSI Capital Management Limited were acquired on 4 March 2020 by Gresham House plc.

About Gresham House plc

Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, infrastructure, renewable energy and battery storage, public and private equity.

Our origins stretch back to 1857, while our focus is on the future and the long term. Quoted on the London Stock Exchange (GHE:LN) we actively manage c.£3.3bn of assets on behalf of institutions, family offices, charities and endowments, private individuals and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.

As a signatory to the UN-supported Principles for Responsible Investment (PRI), our vision is to always make a positive social or environmental impact, while delivering on our commitments to shareholders, employees and investors.

Further information on ReSI is available at www.resi-reit.com, and further information on Gresham House is available at www.greshamhouse.com