RDI REIT P.L.C.
("RDI" or the "Company")
(Registered number 010534V)
LSE share code: RDI
JSE share code: RPL
ISIN: IM00BH3JLY32
LEI: 2138006NHZUMMRYQ1745
FINALISATION ANNOUNCEMENT IN RESPECT OF THE CASH DIVIDEND
FOR THE YEAR ENDED 31 AUGUST 2020
RDI shareholders are referred to the announcement released on 5 November 2020 regarding
the
interim dividend of 5.00 pence per share in respect of the year ended 31 August 2020 (the "cash dividend").
Shareholders are advised that the GBP to Rand conversion rate is 20.29000. Accordingly, the Rand equivalent of the cash dividend of 5.00 pence is 101.45000 ZAR cents.
Shareholders will receive the cash dividend as a Property Income Distribution ("PID"), calculated as follows:
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Shareholders on the
UK share register (pence)
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Shareholders on the
SA share register (cents)
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PID element (gross)
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5.00
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101.45000
|
|
Less 20% UK withholding tax*
|
1.00
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20.29000
|
|
PID element (net of 20%)
|
4.00
|
81.16000
|
|
Less 5% SA withholding tax**
|
N/A
|
5.07250
|
|
PID element (net of 25%)
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N/A
|
76.08750
|
* Certain categories of UK shareholders may apply for exemption, in which case the PID element will be paid gross.
** A 5% rebate is reclaimable from the UK's HM Revenue & Customs, resulting in an effective UK withholding tax rate of 15%. Therefore, an additional 5% South African withholding tax is to be deducted by the relevant regulated intermediary on all cash PIDs paid to persons who are not exempt from dividends tax in South Africa and paid to the South African Revenue Service on the beneficial owner's behalf. As a result, the initial withholding tax rate on cash PIDs for non-exempt South African shareholders will be 25%.
The cash dividend will be paid out of the Company's operating profits.
The salient dates for payment of the cash dividend published in the announcement dated 5 November 2020, remain unchanged.
As at the date of this announcement, the Company has 380 315 623 ordinary shares of 40 pence each in issue.
For further information:
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RDI REIT P.L.C.
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Stephen Oakenfull, Donald Grant
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Tel: +44 (0) 20 7811 0100
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FTI Consulting
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UK Public Relations Adviser
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Dido Laurimore, Claire Turvey, Ellie Sweeney
rdireit@fticonsulting.com
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Tel: +44 (0) 20 3727 1000
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Instinctif Partners
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SA Public Relations Adviser
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Frederic Cornet
RDI@instinctif.com
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Tel: +27 (0) 11 447 3030
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JSE Sponsor
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Java Capital
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Tel: + 27 (0) 11 722 3050
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Note to editors:
About RDI
RDI is an income focused UK-REIT with a diversified portfolio invested principally in the UK. The investment approach is driven by an in depth understanding of occupational demand including the impact of technology, transport and infrastructure investment. The portfolio has been repositioned in recent years to increase its weighting to London and the South East and to provide greater exposure to our leading hotel and serviced office operating platforms.
RDI is committed to delivering attractive income led total returns across the real estate cycle. The current strategic objectives of a lower leverage capital structure and more focused allocation of capital are targeted at delivering an industry leading and sustainable income return.
RDI is a UK Real Estate Investment Trust (UK-REIT) and holds a primary listing on the London Stock Exchange and a secondary listing on the JSE. The Company is included within the EPRA, GPR, JSE All Property and JSE Tradeable Property indices.
For more information on RDI, please refer to the Company's website
www.rdireit.com
