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12 Jul 2021 | 08:11

LXI REIT reaffirms dividend target after collecting 100% of Q3 rent

(Sharecast News) - LXI REIT reaffirmed its dividend target on Monday after it collected 100% of the rent due for the third quarter. "Following this level of rent collection, the board is pleased to reaffirm its intention to pay a quarterly dividend of 1.5p per ordinary share for the second quarter of the financial year, which is expected to be declared in November 2021 and fully covered by net rental income for the quarter," it said.

The quarterly dividend rate reflects the second of four equal instalments totalling 6p per ordinary share that the company is targeting for the financial year. This represents a 4.3% increase on the pre-Covid-19 dividend rate of 5.75p a share.
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