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UK commercial property company LXi REIT said it had collected 100% of the rent due for the quarter ending September 2021.
Following this level of rent collection, the company reaffirmed its intention to pay a quarterly dividend of 1.5 pence per share for the second quarter of the financial year.
The dividend is expected to be declared in November 2021 and fully covered by net rental income for the quarter.
'This quarterly dividend rate reflects the second of four equal instalments totalling 6.0 pence per ordinary share that the company is targeting for that financial year, representing a 4.3% increase on the Company's pre-Covid-19 dividend rate of 5.75 pence per share,' the company said.