Dividend

Scrip Dividend Scheme

The scrip dividend scheme provides Shareholders of NewRiver Ordinary shares with the opportunity, at the shareholders election and where offered by the Company, to elect to receive dividends as New Ordinary shares in the Company instead of their cash dividend, with no dealing charges or stamp duty incurred.

The New Ordinary Shares will carry the same voting rights as, and otherwise rank equally in all respects with, existing ordinary shares.

Details for each relevant scrip dividend (including the timetable, the Scrip Calculation Price and confirmation of whether PID or Non-PID treatment will apply) are announced to Shareholders via a Regulatory Information Service Provider.

Download scrip dividend booklet 

Contact

Please contact our Company Secretary for more information:

Kerin Williams: [email protected]

NewRiver’s Dividend Policy is as follows:

1. To pay dividends equivalent to 80% of UFFO, with any top up as required under the REIT regime rules to be confirmed at the full year results
2. Dividends will be declared twice annually at the Company’s half and full year results, with reference to the most recently completed six-month period.

Dividend Policy Background

Prior to COVID-19, NewRiver’s policy was to pay dividends on a quarterly basis in equal instalments, and the quarterly dividend for the forthcoming year was set at the full year results.

This policy was successful for a number of years, but ultimately did not allow management the flexibility to make the capital and operational decisions required in order to achieve the Company’s strategic priorities.

When the Pandemic hit, the Board took the prudent and early mover decision to suspend the dividend (on 19 March 2020) to protect cash and liquidity.

As we began to ease out of the pandemic last year in 2021, and following our resilient operating performance during the pandemic, successful disposal programme and net debt reduction, the Board were pleased to re-instate the dividend in 2021, as announced in the Company’s FY21 Results in June 2021 (in respect of the year ended 31 March 2021).

The Board also took the opportunity to revise the Company’s Dividend policy as outlined above.