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RDI REIT PLC - Finalisation announcement in respect of the cash dividend for the six months ended 28 February 2019

Release Date: 28/05/2019 08:00
Code(s): RPL     PDF:  
 
Wrap Text
Finalisation announcement in respect of the cash dividend for the six months ended 28 February 2019

RDI REIT P.L.C.
("RDI" or the "Company")
(Incorporated in the Isle of Man)
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745


FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND FOR THE SIX MONTHS ENDED 28 FEBRUARY 2019


RDI shareholders are referred to the announcement released on 25 April 2019 regarding the interim dividend
of 4.00 pence per share in respect of the six months ended 28 February 2019 (the "cash dividend").

Shareholders are advised that the GBP to Rand conversion rate is 18.15000. Accordingly, the Rand equivalent
of the cash dividend of 4.00 pence is 72.60000 ZAR cents.

Shareholders will receive the cash dividend as a Property Income Distribution ("PID"), calculated as follows:

                                                    Shareholders on the                Shareholders on the
                                                      UK share register                  SA share register
PID element (gross)                                                4.00                           72.60000
Less 20% UK withholding tax*                                       0.80                           14.52000
PID element (net of 20%)                                           3.20                           58.08000
Less 5% SA withholding tax**                                        N/A                            3.63000
PID element (net of 25%)                                            N/A                           54.45000

*    Certain categories of UK shareholders may apply for exemption, in which case the PID element will be
     paid gross.

**   A 5% rebate is reclaimable from the UK's HM Revenue & Customs, resulting in an effective UK
     withholding tax rate of 15%. Therefore, an additional 5% South African withholding tax is to be
     deducted by the relevant regulated intermediary on all cash PIDs paid to persons who are not exempt
     from dividends tax in South Africa and paid to the South African Revenue Service on the beneficial
     owner's behalf. As a result, the initial withholding tax rate on cash PIDs for non-exempt South African
     shareholders will be 25%.

The cash dividend will be paid out of the Company's distributable profits.

The salient dates for payment of the cash dividend published in the announcement dated 25 April 2019, remain
unchanged.

As at the date of this announcement, the Company has 380 089 923 ordinary shares of 40 pence each in issue.
For further information:

RDI REIT P.L.C.
Mike Watters, Donald Grant                                  Tel: +44 (0) 20 7811 0100

FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Ellie Sweeney                Tel: +44 (0) 20 3727 1000

Instinctif Partners
SA Public Relations Adviser
Frederic Cornet                                             Tel: +27 (0) 11 447 3030

JSE Sponsor
Java Capital                                                Tel: + 27 (0) 11 722 3050

28 May 2019

Note to editors:

About RDI

RDI is a UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income
focused REIT. The Company's income-led business model and strategic priorities are designed to offer
shareholders superior, sustainable and growing income returns, with a target growth in underlying earnings
per share of 3%-5% across the medium term.

Income sustainability is underpinned by a diversified portfolio and tenant base, with no overreliance on any
one sector or tenant, together with an efficient capital structure. The secure and growing income stream is
24.9% indexed and has a WAULT of 5.8 years to first break. This is complemented by an average debt
maturity of 3.7 years with over 90% of interest costs either fixed or capped. The Company is focused on all
aspects impacting shareholder distributions and reports one of the lowest cost ratios in the industry whilst
maintaining a low cost of debt.

The Company owns properties independently valued at £1.4bn in the United Kingdom and Germany, Europe's
two largest, liquid and transparent property markets. RDI invests in assets with strong property fundamentals
spread across UK offices (including London serviced offices), UK logistics, UK shopping centres, UK retail
parks, UK hotels and German retail. RDI is well placed to take advantage of the increasing occupier
requirement for real estate owners to become high quality service providers, given its scalable operational
platforms with nearly half of the portfolio invested in hotels and London serviced offices.

RDI holds a primary listing on the London Stock Exchange and a secondary listing on the JSE and is included
within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.

For more information on RDI, please refer to the Company's website www.rdireit.com

All figures as at 28 February 2019 (excluding the Aviva financed UK Shopping Centres)

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