RDI REIT PLC Finalisation Announcement for Cash Dividend (1689G)
24 November 2020 - 6:00PM
UK Regulatory
TIDMRDI
RNS Number : 1689G
RDI REIT PLC
24 November 2020
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:
Shareholders on
Shareholders on the the
UK share register SA share register
(pence) (cents)
PID element (gross) 5.00 101.45000
-------------------- -------------------
Less 20% UK withholding
tax* 1.00 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%) 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:
RDI REIT P.L.C.
Stephen Oakenfull, Donald Grant Tel: +44 (0) 20 7811 0100
FTI Consulting
UK Public Relations Adviser
Dido Laurimore, Claire Turvey, Tel: +44 (0) 20 3727 1000
Ellie Sweeney
rdireit@fticonsulting.com
Instinctif Partners
SA Public Relations Adviser
Frederic Cornet Tel: +27 (0) 11 447 3030
RDI@instinctif.com
JSE Sponsor
Java Capital Tel: + 27 (0) 11 722 3050
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
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END
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