SLI.L Regulatory News (SLI)

9 Aug 2006 11:39

Standard Life Invs Property Inc Tst09 August 2006 9 August 2006 Standard Life Investments Property Income Trust LimitedRe: Increased Dividend Announcement The Directors of Standard Life Investments Property Income Trust Limited ("theDirectors") have declared that an interim gross dividend be payable in respectof the quarter ended 30 June 2006 as follows:- Ex Date 16 August 2006Record Date 18 August 2006Pay Date 31 August 2006Dividend per Ordinary Share 1.69p This represents an increase of 0.065p, or 4%, per Ordinary Share on the previousquarterly dividend. The Directors expect that, in the absence of unforeseencircumstances, subsequent quarterly dividends will be maintained at 1.69p perOrdinary Share. The Net Asset Value as at the 30 June 2006, announced on the 5 July 2006,contained a provision for a dividend payment at a rate of 1.625p per share. As aresult of the increased dividend amount a restated Net Asset Value calculationas at 30 June 2006 is shown below. This shows that the Adjusted IFRS Net AssetValue falls from 130.27p to 130.20p per Ordinary Share following the increase indeclared dividend. 30 June 2006 31 March 2006 £ £Property at market value 218,065,000 213,480,000Interest rate swap at market value (182,313) (1,662,768)Current assets 11,218,078 11,217,867Current liabilities (5,818,589) (5,843,035)Long term liabilities (91,391,378) (91,290,038)Deferred taxation (5,898,340) (4,446,297) ------------ -------------IFRS Net Asset Value 125,992,458 121,455,730 Add back deferred taxation 5,898,340 4,446,297Proposed dividend 31 March 2006 (1,690,000) (1,625,000) ------------ -------------Adjusted IFRS Net Asset Value 130,200,798 124,277,027 ------------ ------------- Reconciliation of IFRS Net Asset Value to UK GAAP Net Asset Value: Adjusted IFRS Net Asset Value 130,200,798 124,277,027 Reclassification of preference shares as equity 6,958,686 6,857,346Preference share adjustment to reflect (2,469,554) (2,351,348)capital redemption rightsUnrealised loss on interest rate swap 182,313 1,662,768 ------------ -------------Adjusted UK GAAP Net Asset Value 134,872,243 130,445,793 ------------ ------------- All Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Tel: 01481 745439Fax: 01481 745085 END This information is provided by RNS The company news service from the London Stock Exchange