LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021.
It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants.
As a result of the robust rent collection figures, it has increased its dividend target to 1.46p per share for the quarter ending March 2021.
This level is higher than the pre-COVID quarterly dividend rate and it said it expects it to be fully covered by net rental income.
LXI : LXI REIT collects 96% of rent and increases dividend