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Last checked at 
14 Aug 2018 07:00
14 August 2018
Residential Secure Income plc (the "Company")
Dividend Declaration
Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in residential asset classes that comprise the stock of UK social housing providers, is pleased to declare an interim dividend of 0.75 pence per Ordinary Share for the period from 1 April 2018 to 30 June 2018.
0.375 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 0.375 pence will be paid as an Ordinary UK dividend ("non-PID"). The dividend will be paid on or around 21 September 2018 to Shareholders on the register as at 24 August 2018. The ex-dividend date is 23 August 2018.
The Company is targeting a dividend of at least 3.0 pence per Ordinary Share for the first financial period from the date of admission to 30 September 20181. ReSI intends to pay dividends to Shareholders on a quarterly basis and in accordance with the REIT regime.
On a fully invested and geared basis, ReSI is targeting a dividend yield of 5% per annum based on the issue price of 100 pence per Ordinary Share, which ReSI expects to increase broadly in line with inflation, and a total return in excess of 8% per annum1.
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:
ReSI Capital Management Limited Ben Fry Jonathan Slater Alex Pilato Mark Rogers | +44 (0) 20 7382 0900 |
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Jefferies International Limited Stuart Klein Gary Gould | +44 (0) 20 7029 8000 |
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FTI Consulting +44 (0) 20 3727 1000
Richard Sunderland Email: resi@fticonsulting.com
Claire Turvey
Richard Gotla
The Company's LEI is: 213800D24WA531LAR763
NOTES:
Residential Secure Income plc (LSE: RESI) is listed on the premium segment of the Official List of the UK Listing Authority and was admitted to trading on the Main Market of the London Stock Exchange in July 2017.
ReSI has been established to invest in portfolios of Homes across residential asset classes that comprise the stock of Housing Associations and Local Authorities, comprising Shared Ownership Homes and Rental Homes (being Market Rental Homes, Functional Homes and Sub-Market Rental Homes) throughout the UK.
ReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 17 year track record of executing transactions within the UK social housing sector and, to date, has arranged funding of over £10 billion in the social housing, care and other specialist residential property sectors.
ReSI seeks to deliver secure, long-dated, inflation-linked income returns through investment in UK social housing. It aims to meet demand from Housing Associations and Local Authorities for alternative equity-like financing sources that allows them to recycle capital back into socially and economically beneficial new housing, making a meaningful contribution to the UK housing shortage.
Homes acquired by ReSI will predominantly be on a freehold or long leasehold basis (typically 99 years or more to maturity) and benefit from long term (typically 20 years plus) inflation-adjusted cash flows. Acquisitions by ReSI will be limited to Homes with sufficient cashflows, counterparty credit quality and property security that allow the Fund Manager to arrange long-term investment grade equivalent debt.
Further information on ReSI is available at www.resi-reit.com
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