Dividend Declaration - 1Q2021

28 January 2021

Residential Secure Income plc

Dividend Declaration

Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in affordable shared ownership, retirement and local authority housing, is pleased to declare an interim dividend of 1.25 pence per Ordinary Share for the period from 1 October 2020 to 31 December 2020.

0.60 pence of the dividend will be paid as a Property Income Distribution ("PID") in respect of the Company's tax exempt property rental business and 0.65 pence will be paid as an Ordinary UK dividend ("non-PID"). The dividend will be paid on 5 March 2021 to shareholders on the register as at 5 February 2021. The ex-dividend date is 4 February 2021.

With this interim dividend, the Company will have paid 1.25 pence per Ordinary Share for the financial year ended 30 September 2021, in line with the target for the year.

Over time, ReSI expects its dividends to increase broadly in line with inflation, and targets a total return in excess of 8% per annum¹. ReSI intends to pay dividends to shareholders on a quarterly basis and in accordance with the REIT regime.

¹ These are targets only and not a profit forecast. There can be no assurance that the targets will be met.

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About Residential Secure Income plc

Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) listed on the premium segment of the Main Market of the London Stock Exchange with the objective of delivering secure inflation linked returns by investing in affordable shared ownership, retirement and local authority housing throughout the UK.

ReSI targets a secure, long-dated, inflation-linked dividend of 5.0 pence per share p.a. (paid quarterly) and a total return in excess of 8.0% per annum. Including recent committed acquisitions, ReSI's portfolio comprises 2,802 properties, with an (unaudited) IFRS fair value of £324m.

ReSI aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (Housing Associations, Local Authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial new affordable housing.

ReSI's subsidiary, ReSI Housing Limited, is registered as a for-profit Registered Provider of Social Housing, and so provides a unique proposition to its housing developer partners, being a long term private sector landlord within the social housing regulatory environment. As a Registered Provider, ReSI Housing can acquire affordable housing subject to s106 planning restrictions and housing funded by government grant.

Acquisitions by ReSI are limited to homes with sufficient cashflows, counterparty credit quality and property security to be capable of supporting long‑term investment grade equivalent debt. ReSI does not manage or operate stock and uses experienced and credit-worthy third-party managers.

ReSI is managed by ReSI Capital Management Limited, whose immediate parent company, TradeRisks Limited, has been active within the social housing sector for over 19 years as a funding arranger and advisor and, over the last three years, as an investor through ReSI.

ReSI Capital Management and its parent, TradeRisks, were acquired by Gresham House in March 2020, further increasing the investment expertise available to ReSI. The housing investment team at Gresham House has 15 members and growing, with an average of 20 years' relevant experience, covering fund management, housing investment, social housing management and financial and risk expertise.

Gresham House plc is a London Stock Exchange quoted specialist alternative asset manager committed to operating responsibly and sustainably, taking the long view in delivering sustainable investment solutions.

Further information on ReSI is available at www.resi-reit.com 

Further information on Gresham House is available at www.greshamhouse.com