Sirius Real Estate concludes dividend reinvestment plan

LONDON - Sirius Real Estate Limited, a property company incorporated in Guernsey, has announced the outcome of its Dividend Reinvestment Plan (DRIP) following its previous declaration of a cash dividend for the six-month period ending on September 30, 2024. The company provided shareholders the option to receive the dividend in the form of additional shares instead of cash.

Shareholders on the UK share register with holdings of 2.7 million shares, representing 0.18% of Sirius’ issued share capital as of the UK record date of December 13, 2024, elected to receive shares via the DRIP. This resulted in the acquisition of 81,958 shares on the market at an average price of £0.7740 per share, which were then distributed to the electing shareholders.

Similarly, shareholders on the South African share register with 48.0 million shares, or 3.18% of the issued share capital as of the SA record date, also opted for the DRIP. This led to the purchase of 1,381,364 shares at an average price of R18.36865 per share, subsequently delivered to the shareholders who opted in.

The DRIP shares were sourced from the market and not through the issuance of new shares by Sirius Real Estate, leaving the company’s total issued share capital unchanged at 1,511,857,390 shares. The company has confirmed that it does not hold any shares in treasury.

The total cash dividend payable for the period was €46,025,880.54, with €44,720,096.26 being paid in cash. The remaining amount of €1,553,784.28 was settled through the delivery of shares to the shareholders who participated in the DRIP. Additionally, the Company’s Employee Benefit Trust waived its right to receive the cash dividend.

This financial maneuver allows shareholders to increase their investment in the company without incurring brokerage fees that would typically be associated with purchasing shares on the open market. The DRIP is often seen as a vote of confidence by shareholders in the company’s performance and prospects.

The information provided in this article is based on a press release statement from Sirius Real Estate Limited.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.