Residential Sec Regulatory News (RESI)

1 August 2019

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 April 2019 to 30 June 2019.

All 1.25 pence of the dividend will be paid as an Ordinary UK dividend ("non-PID") and no Property Income Distribution ("PID") will be paid for this quarter. The dividend will be paid on 6 September 2019 to Shareholders on the register as at 9 August 2019. The ex-dividend date is 8 August 2019.

Including this interim dividend, the Company will have paid 3.75 pence per Ordinary Share for the first three quarters of the financial year beginning on 1 October 2018. For this financial year, ReSI is targeting a dividend yield of 5% per annum based on the issue price of 100 pence per Ordinary Share. 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: 

NOTES:

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% p.a. and has to date committed c. £300 million, assembling a portfolio of 2,678 properties.

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.

ReSI is managed by ReSI Capital Management Limited, a wholly-owned subsidiary of TradeRisks Limited which has an 18 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.

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.

Further information on ReSI is available at www.resi-reit.com