Regional REIT is set to pay out a reduced dividend of 1.5p per share for Q2 2020.
This is 21% lower than its Q1 dividend of 1.90p per share, and similarly down on its dividend for the same quarter last year.
The quarterly dividend, for the period between 1 April and 30 June, was issued because “rent collection has remained as high as expected, despite the unfolding uncertain economic backdrop”.
However, the REIT said its board continues to “hold more cash than it would normally”, having adopted “a conservative approach” in the challenging environment, which “impacts on current income”.
The dividend will be payable on 16 October.
Stephen Inglis, chief executive of London & Scottish Property Investment Management, the REIT’s asset manager, said: “We are aiming to maintain this level as a minimum for the remainder of 2020, though we are conscious of the uncertain economic backdrop.
“The board’s continued commitment to paying a dividend has been made as the group’s investment strategy and strong asset management approach has continued to perform well.”
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