Real Estate Credit Investments Ltd (LON:RECI) has announced the release of the Company’s Condensed Unaudited Interim Financial Statements for the six months ended 30 September 2023.
The company has also declared a second interim dividend of 3.0 pence per Ordinary Share (a total amount of GBP 6,879,974.34) for the year ending 31 March 2024. The dividend is to be paid on 5 January 2024 to Ordinary Shareholders on the register at the close of business on 8 December 2023. The ex-dividend date is 7 December 2023.
OVERVIEW
AS AT 30 SEPTEMBER 2023
Overview and Highlights
· Defensive credit exposure to UK and Western European real estate credit markets
- Stable and uninterrupted dividends delivered consistently since October 2013
· Granular portfolio with detailed disclosure
- 45 positions
- Diverse portfolio across sectors and geography
· Attractive and stable income in a changing interest rate environment
- Consistent portfolio yield of 7%+ offering a buffer to risk-free rates
- A high-yielding portfolio, combined with a short weighted average life, ensures minimal exposure to yield widening and the ability to redeploy at higher rates quickly
· Access to Cheyne’s established real estate investment team and substantial origination pipeline
Key Figures
- Total Assets £408.5m (31 March 2023: £419.0m)
- NAV per share £1.48 (31 March 2023: £1.47)
- Net Assets £338.8m (31 March 2023: £337.0m)
- Net Profit £15.6m (Full year ended 31 March 2023: £20.6m profit)
