Pacific Industrial & Log REIT PLC Dividend payment (2783B)
January 09 2018 - 2:00AM
UK Regulatory
TIDMPILR
RNS Number : 2783B
Pacific Industrial & Log REIT PLC
09 January 2018
Pacific Industrial & Logistics REIT plc
("Pacific Industrial & Logistics" or the "Company")
Dividend payment
Pacific Industrial & Logistics, (AIM: PILR), the specialist
UK industrial and logistics REIT, announces that further to the
Company's statement on 22 December 2017, the interim dividend of
2.10 pence per share will be paid on 2 February 2018.
As previously announced, the dividend will be paid to
shareholders as a Property Income Distribution, with a record date
of 5 January 2018 and an ex-dividend date of 4 January 2018.
Following payment of the dividend the Company will have paid
3.33 pence per share to shareholders in respect of the financial
year to 31 March 2018.
- Ends -
For further information contact:
Pacific Industrial &
Logistics REIT plc
Richard Moffitt +44 (0)20 7591 1600
Canaccord Genuity - Nominated
Adviser and Broker
Simon Bridges
Charlie Foster +44 (0)20 7523 8000
Montfort - Financial
PR and IR adviser
Nick Miles
Olly Scott +44 (0)78 1234 5205
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
About Pacific Industrial & Logistics REIT
Pacific Industrial & Logistics REIT plc is a property
investment company, quoted on the AIM market of the London Stock
Exchange, (AIM: PILR).
The Company has been established to invest in UK based
industrial and logistics properties with the objective of
generating attractive dividends and capital returns for its
shareholders. Its investment strategy focuses on strategically
located smaller single let industrial and logistics properties
servicing high-quality tenants. Investment returns will be
generated by an experienced management team focusing on quality
stock selection and active asset management.
A number of structural and commercial factors currently support
the attractive opportunity in the last mile/regional industrial and
logistics real estate sub-sectors targeted by the Company,
including: strong occupier demand, (driven by the growth of
e-commerce and investment by retailers in their associated supply
chain) and a decline in the supply of lettable space in industrial
and logistics real estate across the UK (being more than one third
lower than the most recent peak of 2009).
Acquisitions are targeted in the 6.5-7.5% net initial yield
bracket, (with affordable underlying rents in the region of
GBP4.50-GBP5.50 per sq. ft.), on an overall LTV of 35-40% and a
significant margin over financing costs, thus presenting attractive
income, capital growth and total return opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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