StockMarketWire.com - LXI REIT said it would meet its dividend target this year despite flagging coronavirus-led disruptions to some of its customers businesses.

To date, just 67% the company had received 67% of rent due in respect of the quarter ending 30 June 2020 as some of its company's customers were experiencing unprecedented short-term disruption to their business models, LXI REIT said. The company was in advanced discussions with tenants which represent a further 30% of the rent roll to agree payment plans, which included conversions to monthly or in arrears payments or deferral and stage repayments over a defined period.

The company said it would meet its dividend per share target of 5.75p for the year, after confirming that it expected to approve the payment of the company's final quarterly dividend in respect of the year ended 31 March 2020, at the rate of 1.4375p per share. The final dividend was scheduled to be announced in May 2020, it added.


At 8:37am: [LON:LXI] Lxi Reit PLC share price was -0.2p at 105.4p



Story provided by StockMarketWire.com