Business
AGM Statement, Portfolio Update and Disposal
AGM Statement, Portfolio Update and Disposal.
About this update from Alternative Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9543T\n Alternative Income REIT PLC\n 30 November 2021\n \n \n \n \n 30 November 2021\n \n \n \n Alternative Income REIT P\n \n \n LC\n \n \n \n (the \"\n \n Company\n \n \" or \"\n \n Group\n \n \")\n \n \n AGM STATEMENT AND BUSINESS AND PORTFOLIO UPDATE AND DISPOSAL\n \n \n On track to deliver target annual dividend of 5.5 pence per share with full dividend cover expected, all else being equal, by September 2022\n \n \n Alternative Income REIT PLC\n (ticker: AIRE), the owner of a diversified portfolio of UK commercial property assets, predominantly let on long leases,\n \n will hold its Annual General Meeting today at 10.00am GMT, at which, the following statementwill be made:\n \n \n \n \n \n Alan Sippetts, Non-Executive Chairman of Alternative Income REIT plc, comments:\n \n \n \"The Company's portfolio continues to weather the pandemic well. With a long term, secure and indexed-linked income flow plus continuing very strong rent collection figures, the Company is well placed to deliver attractive income and capital growth. \n \n \n \n \n \n Higher inflation should deliver enhanced income and capital growth with 87% of portfolio's leases indexed linked, with the potential for further enhancement through asset management initiatives and transactions initiated on an opportunistic basis only. This includes the sale, expected to complete tomorrow, to the occupier of the Audi showroom asset in Huddersfield, at a 3.8% premium on the book value as at June 2021. M7 is actively pursuing opportunities for the redeployment of the proceeds of the sale.\n \n \n \n \n \n Yields in the portfolio have been resilient, even in those sectors most impacted by the pandemic. There is further potential for yield compression as trading and the market generally improves. \n \n \n \n \n \n When combined with the Company's robust balance sheet and modest overhead, this leaves the Board confident that the Company is on track to deliver on its target annual dividend of 5.5 pence per share with full dividend cover expected, all else being equal, by September 2022.\"\n \n \n \n \n \n Portfolio and Disposal Update\n \n \n The portfolio has a long term, secure and attractive income flow with predominantly indexed linked rent reviews, and a very strong rent collection history. The portfolio h...