Schroder European Real Estate Investment Trust (SERE)

  • Change Today:
  • 52 Week High: 119.00
  • 52 Week Low: 59.40
  • Currency: UK Pounds
  • Shares Issued: 133.73m
  • Volume: 100,781
  • Market Cap: £94.95m

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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SERE Market Data

Currency UK Pounds
Share Price 71.00p
Change Today 0.20p
% Change 0.28 %
52 Week High 119.00
52 Week Low 59.40
Volume 100,781
Shares Issued 133.73m
Market Cap £94.95m

SERE Star Ratings

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Income Not Available
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SERE Dividends

  Latest Previous
  1st Interim 4th Interim
Ex-Div 26-Mar-20 09-Jan-20
Paid 14-Apr-20 27-Jan-20
Amount 1.85¢ 1.85¢

Trades for 07-Apr-2020

Time Volume / Share Price
11:17 5,000 @ 71.00p
10:35 6,491 @ 71.81p
10:19 14,763 @ 71.80p
10:12 4,450 @ 71.81p
09:53 11,194 @ 72.00p

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