REI boosts dividend as business looks set for brighter 2021

Birmingham-based Real Estate Investors plc (REI) is to buck the commercial property market trend and pay a fully covered dividend of 0.75p for the quarter 1 April to 30 June 2021. In the same period last year the company paid 0.50p.

The Stock Exchange-listed real estate investment trust with a 1.6 million sq ft portfolio of commercial property across all sectors in the Midlands, pledged last year to continue with its progressive dividend policy.

In 2020, REI paid a total dividend for the year of 3p, making a total of £36.4 million paid out since the company commenced paying dividends. The business also carried out a share buyback costing £2 million during the year – at the same time maintaining its dividend policy.

REI chief executive Paul Bassi said: “We enter the second half of 2021 well positioned to take advantage of the regional economic bounce back and any market opportunities that will reveal themselves and benefit from renewed occupier demand, in particular for our convenience retail and our out of town offices.

“We are starting to see the economic boost from HS2, Coventry City of Culture 2021 and the Commonwealth Games in 2022.

“As the marketplace normalises, we anticipate a healthy recovery in valuations and sales at pre-COVID-19 levels with a strong investor demand for regional assets that performed well during the global pandemic, supported by high levels of equity and low costs of debt available for real estate.”

REI ended 2020 with £9.725 million of property sales which have unconditionally exchanged contracts and completion is expected in 2021. They included an Aldi store in Birmingham which the supermarket chain is acquiring for £5.35 million.

The company also announced that well-known Birmingham lawyer and businessman John Crabtree OBE retired as chairman at the end of May 2021, with William Wyatt, CEO of Caledonia Trust, assuming the role.

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For further information, please contact:

Paul Bassi, Chief Executive Officer,

Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 265 6406 or 0121 212 3446

Prepared and issued by Andy Skinner at ASAP, 01608 651203, mobile, 07990 978257

About Real Estate Investors plc

Real Estate Investors Plc is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.6 million sq ft of mixed-use commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.  The Company’s strategy is to invest in well located, real estate assets in the established and proven markets across the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.  On 1st January 2015, the Company converted to a REIT.  Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.  The Company aims to deliver capital growth and income enhancement from its assets, supporting its progressive dividend policy.  Further information on the Company can be found at