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LONDON - Social Housing REIT plc (LON:SOHO), a UK-based real estate investment trust specializing in supported housing, has announced a dividend target increase for the financial year ending December 31, 2025. The company aims for an aggregate dividend of 5.622 pence per ordinary share, marking a 3.0% increase from the 5.46 pence per share paid for the previous year. This is the first hike in the dividend target since 2022.
The Board attributes the increase to the successful lease assignments from Parasol to Westmoreland, a switch to a market capitalization-based management fee with the appointment of Atrato Partners Limited as the Investment Manager, and an improvement in earnings partly due to annual inflation-linked rent increases.
In addition, the Board has declared an interim dividend of 1.4055 pence per ordinary share for the period from January 1 to March 31, 2025, payable around June 27, 2025, to shareholders on the register as of May 30, 2025. The ex-dividend date is set for May 29, 2025. This dividend will be distributed as a Property Income Distribution.
The announcement also highlighted the shareholdings of the Atrato senior team and the Atrato Employee Benefit Trust, which combined hold 2,778,148 units in the Company. Individual holdings of senior members range from 28,815 to 1,486,311 units.
Furthermore, Social Housing REIT has changed its valuation frequency from quarterly to bi-annual, aligning with the wider listed UK Real Estate sector practices. This adjustment is expected to reduce ongoing costs and is in line with the Investment Manager’s focus on efficiency savings. The Group’s properties will continue to be independently valued by Jones Lang LaSalle Limited on an individual asset basis at the end of June and December each year.
The Board, along with the Investment Manager, anticipates a return to a long-term progressive dividend policy moving forward. However, it is important to note that the target dividend is a goal and not a forecast, and there is no guarantee that it will be achieved. This information is based on a press release statement.
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