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22 Apr 2021 | 08:21

LXi reaffirms quarterly dividend as rent collection reaches 99pc

(Sharecast News) - LXi said on Thursday that it had continued to engage with all of its tenants, leading to rent collection of 99% to-date for the quarter ending June. The FTSE 250 real estate investment trust said the figure was calculated on the basis of cash received versus contractual rent due, and did not include rent deferrals.

It said its rent collection would increase to 99.8% following the receipt of short-term rent deferrals agreed with tenants.

As a result of that level of rent collection, the board reaffirmed its intention to pay a quarterly dividend of 1.5p per share for the first quarter.

"This quarterly dividend rate reflects the first of four equal instalments that the company is targeting for that financial year, totalling 6p per ordinary share," the board said in its statement.

At 0801 BST, shares in LXi REIT were down 0.11% at 130.86p.
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