RGL

Q1 2024 Dividend Declaration

The Company declares that it will pay a dividend of 1.20 pence per share (“pps”) for the period 1 January 2024 to 31 March 2024, (1 January 2023 to 31 March 2023: 1.65pps). The entire dividend will be paid as a REIT property income distribution (“PID”).

Shareholders have the option to invest their dividend in a Dividend Reinvestment Plan (“DRIP”), and more details can be found on the Company’s website https://www.regionalreit.com/investors/investors-dividend/dividend-reinvestment-plan.

The key dates relating to this dividend are:

The level of future payments of dividends will be determined by the Board having regard to, among other factors, the financial position and performance of the Group at the relevant time, UK REIT requirements, the interest of shareholders and the long term future of the Company.

Stephen Inglis, CEO of London & Scottish Property Investment Management, Asset Manager commented:

“During the period under review, rent collection remained strong, positive leasing momentum was maintained, EPC ratings continued to improve, and the disposals programme remains on track for 2024.

“With inflation pressures subsiding we expect this to lead to an easing of pressure on the wider economy and in turn the likely reduction in the borrowing cost environment. The combination of these two factors should see a positive impact on the investment market and transactional activity, assisting the sales programme and the value of our assets.

“We are acutely aware of the need to reduce our LTV back towards the 40% long term target and finding the most appropriate solution for the retail bond, which is due to mature in August. We continuing to progress the work on debt and equity refinancing options available to the Company, whilst executing the controlled disposal programme.

“The Board continues to align the dividend with earnings and has today declared the Q1 2024 dividend of 1.20pps for the period.”

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Dividend unchanged, a strong hold.