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14 December 2016
SECOND INTERIM DIVIDEND
Schroder European Real Estate Investment Trust plc (the "Company") announces its second interim dividend for the year ended 30 September 2016 of 0.9 euro cents per share. The dividend represents an annualised rate of 2.6% based on the euro equivalent of the issue price as at admission.
The dividend is fully covered from contractual income receivable from the current portfolio. Once fully invested, including the debt being drawn, the Company will target an annualised euro dividend yield of 5.5%, based on the euro equivalent of the issue price as at admission.
The interim dividend payment will be made on 27 January 2017 to shareholders on the register on the record date of 13 January 2017. In South Africa, the last day to trade will be 10 January 2017 and the ex-dividend date will be 11 January 2017. In the UK, the last day to trade will be 11 January 2017 and the ex-dividend date will be 12 January 2017.
The interim dividend will be paid in GBP to shareholders on the UK register and Rand to shareholders on the South African register. The exchange rate for determining the interim dividend paid in Rand will be confirmed by way of an announcement on 3 January 2017. UK shareholders are able to make an election to receive dividends in Euro. The form for applying for such election can be obtained from the Company's UK registrars (Equiniti Limited) and any such election must be received by the Company no later than 13 January 2017. The exchange rate for determining the interim dividend paid in GBP will be confirmed following the election cut off date by way of an announcement on 16 January 2017.
Shares cannot be moved between the South African register and the UK register between 3 January 2017 and 13 January 2017, both days inclusive. Shares may not be dematerialised or rematerialised in South Africa between 11 January 2017 and 13 January 2017, both days inclusive.
The Company has a total of 133,734,686 shares in issue on the date of this announcement. The dividend will be distributed by the Company (UK tax registration number 21696 04839) and is regarded as a foreign dividend for shareholders on the South African register. In respect of South African shareholders, dividend tax will be withheld from the amount of the dividend noted above at the rate of 15% unless the shareholder qualifies for the exemption. Further dividend tax information for South African shareholders will be included in the exchange rate announcement to be made on 3 January 2017.
Duncan Owen/Tony Smedley
Schroder Real Estate Investment Management Limited Tel: 020 7658 6000
Schroder Investment Management Limited Tel: 020 7658 2371
Dido Laurimore Tel: 020 3727 1000
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