SCHRODER EUROPEAN REAL ESTATE INVESTMENT TRUST PLC - Second Interim Dividend

Release Date: 12/06/2018 08:01
Code(s): SCD
 
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Second Interim Dividend

Schroder European Real Estate Investment Trust PLC

(Incorporated in England and Wales)

Registration number: 09382477

JSE Share Code: SCD

LSE Ticker: SERE

ISIN number: GB00BY7R8K77


12 June 2018

                                          SECOND INTERIM DIVIDEND

Schroder European Real Estate Investment Trust plc (the "Company") announces its second interim dividend in
respect of the year ended 30 September 2018 of 1.85 euro cents per share.

The dividend is approximately 100% covered from recurring income from the portfolio. This excludes the impact
of the receipt of €2.4m in respect of the first payment for the Hamburg lease surrender. Including the Hamburg
surrender premium receipt the dividend cover is 172%.

The declared dividend represents an annualised rate of 5.5% based on the euro equivalent of the issue price at
admission, fulfilling the target dividend stated at IPO. Based on the Euro: GBP exchange rate as at 31 March
2018, this equates to an annualised rate of 6.5% on the GBP issue price at IPO of 100 pence per share.

Total interim dividends declared to date relating to the year ending 30 September 2018 amount to 3.7 euro
cents per share. This represents an increase of 68% over the same period in respect of the year ended 30
September 2017.

The interim dividend payment will be made on Friday, 20 July 2018 to shareholders on the register on the record
date of Friday, 6 July 2018. In South Africa, the last day to trade will be Tuesday, 3 July 2018 and the ex-dividend
date will be Wednesday, 4 July 2018. In the UK, the last day to trade will be Wednesday, 4 July 2018 and the ex-
dividend date will be Thursday, 5 July 2018.

 The interim dividend will be paid in sterling 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 Monday, 18 June 2018. 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 Friday, 6 July. The
exchange rate for determining the interim dividend paid in sterling will be confirmed following the election cut
off date by way of an announcement on Monday, 9 July 2018.

Shares cannot be moved between the South African register and the UK register between Monday, 18 June
2018 and Friday, 6 July 2018, both days inclusive. Shares may not be dematerialised or rematerialised in South
Africa between Wednesday, 4 July 2018 and Friday, 6 July 2018, 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 20% 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 Monday, 18 June 2018.

Enquiries:

Duncan Owen/Jeff O'Dwyer
Schroder Real Estate Investment Management Limited                   Tel: 020 7658 6000

Ria Vavakis
Schroder Investment Management Limited                               Tel: 020 7658 2371

Dido Laurimore / Ellie Sweeney / Richard Gotla
FTI Consulting                                                       Tel: 020 3727 1000

JSE Sponsor

PSG Capital

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