Schroder European Real Estate Investment Trust (SERE)

  • Change Today:
  • 52 Week High: 89.60
  • 52 Week Low: 60.34
  • Currency: UK Pounds
  • Shares Issued: 133.73m
  • Volume: 190,311
  • Market Cap: £80.78m

Schroder REIT shareholders to reap rewards of reduced interest costs

By Josh White

Date: Wednesday 16 Oct 2019

LONDON (ShareCast) - (Sharecast News) - UK-focussed Schroder Real Estate Investment Trust has set the final interest rate and break cost under its new loan with Canada Life Investment, it announced on Wednesday.
The London-listed REIT said the final key loan terms included that the £129.6m fixed rate loan was extended from 8.5 to an average 16.5 years.

It confirmed a reduction in the total interest rate from 4.4% to 2.5% per annum, generating an immediate interest saving of £2.5m per annum.

Schroder also said it had negotiated a break cost of £25.8m, funded by cash realised from disposals.

"[The] interest saving [will] be paid to shareholders as an increased dividend of £16m per annum, equating to an increase of 19%, starting at the period 1 October 2019," the board said in its statement.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


SERE Market Data

Currency UK Pounds
Share Price 60.40p
Change Today -2.60p
% Change -4.13 %
52 Week High 89.60
52 Week Low 60.34
Volume 190,311
Shares Issued 133.73m
Market Cap £80.78m

SERE Star Ratings

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Income Not Available
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SERE Dividends

  Latest Previous
  1st Interim 4th Interim
Ex-Div 11-Apr-24 28-Dec-23
Paid 10-May-24 25-Jan-24
Amount 1.48¢ 1.48¢

Trades for 17-Apr-2024

Time Volume / Share Price
16:35 2 @ 60.40p
16:35 1 @ 60.40p
16:35 1 @ 60.40p
16:25 31,857 @ 60.40p
16:11 800 @ 61.35p

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