Civitas Social Housing PLC Dividend Declaration
The Board of Civitas Social Housing PLC , a London listed real estate investment trust (REIT) dedicated to investing into regulated social housing in England and Wales, is pleased to announce a quarterly dividend for the financial year ended 31 March 2019 together with a commentary on the dividend target for the financial year to 31 March 2020.
The Board has declared a quarterly dividend in respect of the Ordinary Shares for the three months to 31 March 2019 of 1.325 pence per Ordinary Share, being an increase of 6 per cent over the previous quarterly dividend payment of 1.25 pence.
The dividend will be paid on or around 7 June 2019 to holders of Ordinary Shares on the register as at 17 May 2019 (the Record Date). The corresponding ex-dividend date will be 16 May 2019.
The dividend will be paid as a REIT property income distribution (“PID”). For shareholders who qualify for gross payment of distributions, forms to register for gross PIDS are available on the Company’s website or from the Company’s registrar, Link Asset Services, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU. Eligibility declarations must be returned to the Company’s registrar by the Record Date.
The Directors are now targeting to pay a total dividend of 5.3 pence per Ordinary Share in respect of the Company’s financial year ending 31 March 2020, being an increase of 4.3 per cent over dividends declared in relation to the previous financial year to 31 March 2019 of 5.08 pence per Ordinary Share
This dividend target is expected to be supported by the underlying and future growth in rental income achieved during the financial year ending 31 March 2020.
In future years the Company will target to increase dividends to reflect the growth in rental income.