The Board of Empiric Student Property plc (ticker: ESP) has declared a first interim dividend for the financial year ending 30 June 2016 of 1.5 pence per Ordinary Share in respect of the quarter ended 30 September 2015, payable on or around 4 November 2015 to Ordinary Shareholders on the register on 16 October 2015. The ex-dividend date will be 15 October 2015.   

0.725 pence of this dividend will be paid as a Property Income Distribution (“PID”) in respect of the Company’s tax exempt property rental business and 0.775 pence will be paid as an ordinary UK dividend (“non-PID”).

The Company confirms an annual dividend target of at least 6 pence per Ordinary Share for the financial year commencing 1 July 2015. Thereafter, dividends are expected to grow by not less than the RPI inflation index (1).

 

(1) The target dividends stated above are targets only and not profit forecasts. There can be no assurance that these targets will be met and they should not be taken as an indication of the Company’s expected or actual future results. Potential investors should not place any reliance on these targets.