PRSR.L
The PRS REIT plc
("the PRS REIT" or "the Company")
Q1 Dividend Declaration
The PRS REIT, the closed-ended real estate investment trust that invests in high-quality, new build, family homes in the private rented sector, is pleased to declare an interim quarterly dividend of 1.0 pence per ordinary share in respect of the first quarter (July-September) of its new financial year ending 30 June 2025.
One hundred per cent. (1.0 pence per share) of the dividend will be paid as a Property Income Distribution.
The dividend will be payable, on or around 29 November 2024, to shareholders on the register on 15 November 2024. The ex-dividend date will be 14 November 2024.
The Company's continued earnings growth provides the Board with the opportunity to consider raising the total dividend payout target for the new financial year while also maintaining full dividend cover from EPRA earnings per share. This will be considered, in due course, alongside the strategic review and formal sale process as announced on 23 October 2024.
For further information, please contact:
| The PRS REIT plc Geeta Nanda, Senior Independent Non-executive Director | | Tel: 020 3178 6378 (c/o KTZ Communications) |
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| Singer Capital Markets James Moat, James Maxwell, Asha Chotai | | Tel: 020 7496 3000 |
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| G10 Capital Limited (AIFM and part of IE-EQ group) Maria Baldwin | | Tel: 020 7397 5450 |
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| KTZ Communications Katie Tzouliadis, Robert Morton | | Tel: 020 3178 6378 |
NOTES TO EDITORS
About The PRS REIT plc
The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector ("PRS") and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing over £1bn in a portfolio of high-quality homes for private rental across the regions, having raised a total of £0.56bn (gross) through its Initial Public Offering, on 31 May 2017 and subsequent fundraisings in February 2018 and September 2021. The UK Government's Homes England has supported the Company with direct investments. The Company is listed on the Closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the London Stock Exchange's Main Market. It is a constituent of the FTSE 250 Index. With 5,425 new rental homes as at 30 September 2024, the Company believes its portfolio is the largest build-to-rent single-family rental portfolio in the UK.
LEI: 21380037Q91HU97WZX58
About Sigma Capital Group Limited (formerly Sigma Capital Group plc) www.sigmacapital.co.uk
Sigma Capital Group Limited ("Sigma") is a build-to-rent ("BTR") regeneration specialist, with offices in Edinburgh, Manchester and London. The Company's principal focus is on the delivery of large-scale housing schemes for the private rented sector and Sigma is the UK's leading provider of BTR homes for the single family sector. The Company also has extensive experience in the delivery of multi-family apartment schemes and a well-established track record in assisting with property-related regeneration projects in the public sector, acting as a bridge between the public and private sectors.
Sigma has created an unrivalled property delivery and management platform, which has delivered or is in the process of delivering over 12,000 homes across the UK to date. The Company has a significant pipeline of development opportunities, which currently stands at over £3 billion in gross development cost. Sigma manages the letting of completed homes through its property platform, which includes its award-winning rental brand 'Simple Life'. The Company's subsidiary, Sigma PRS Management Ltd, is Investment Adviser to The PRS REIT plc.
About Sigma PRS Management Ltd
Sigma PRS Management Ltd is a wholly-owned subsidiary of Sigma Capital Group Limited and is Investment Adviser to The PRS REIT plc. It sources investments and operationally manages the assets of The PRS REIT plc and advises the Alternative Investment Fund Manager ("AIFM") and The PRS REIT plc on a day-to-day basis in accordance with The PRS REIT plc's Investment Policy. The AIFM is G10 Capital Limited. Sigma PRS Management Ltd is an appointed representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN:648953).
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