Business
NAV, Trading Update and Dividend Declaration
NAV, Trading Update and Dividend Declaration.
About this update from Alternative Income Reit Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4435E\n Alternative Income REIT PLC\n 05 November 2020\n \n \n \n \n 5 November 2020\n \n \n Alternative Income REIT PLC\n \n \n (the \"\n \n Company\n \n \" or \"\n \n Group\n \n \")\n \n \n DIVIDEND DECLARATION\n \n \n UPDATE ON NAV, TRADING AND THE BUSINESS\n \n \n The Board of Directors of \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 today provides a trading and business update\n and declares an interim dividend for the quarter ended 30 September 2020\n .\n \n \n Steve Smith, Chairman of Alternative Income REIT plc, commented:\n \n \n \"The interim dividend of 1.25 pence per share that we have declared today is consistent with the Company's annual dividend of 5.0 pence per share paid for the year ended 30 June 2020, reflecting the Company's strong collection of its rent for the current quarter to December 2020 and strong cash flow. The Board continues to target a resumption of a fully covered annual dividend of 5.5 pence per share1, all else being equal, by September 2022. \n \n \n \n \n \n The Board firmly believes that the resilience of the Company's diversified portfolio,\n that remains fully let\n , its resilient balance sheet and robust rent collection together with the recent significant reduction in the Group's overhead leaves the Group well positioned to pursue its proposed enhanced strategy, supported by its accomplished Investment Adviser, M7 Real Estate Limited, in rapidly changing market conditions suited to a more active and responsive approach. \n \n \n \n \n \n The Board believes that with additional investment it can deliver to its shareholders both strong performance and a secure and progressive dividend and that the proposed cash tender offer from Glenstone for up to 25% of the Company's shares significantly undervalues the Company.\"\n \n \n Dividend declaration and robust rent collection \n \n \n The Board declares today an interim dividend of 1.25 pence per share for the quarter ended 30 September 2020\n . \n The dividend will be paid on 30 November 2020 to shareholders on the register on 13 November 2020. The ex-dividend date will be 12 November 2020. The dividend will be a Property Income Distribution.\n \n \n \n \n \n This dividen...