Dividends

These dividends are underpinned by our secure and stable income, which comes from our tenants within a group that is financially sound and committed to providing high standards of care. We benefit from long leases with inflation-linked annual rent reviews.

Through active asset management we also aim to deliver growth in net asset values over the medium term.

The Group will have paid an aggregate dividend of 6.0 pence per share for the first 12 months from Admission, which equates to a yield of 6% per annum on the IPO Issue Price, payable in quarterly instalments.

2020 expected dividend calendar

Target Dividend

Since First Admission, the Company has declared and paid dividends in line with its target dividend yield of 6.0% on the original issue price of 100 pence per Ordinary Share. Going forward, subject to market conditions, applicable law and the Company’s performance, financial position and financial outlook (including the Retail Prices Index) (and whilst not forming part of its investment policy), the Company will also seek to grow the Target Dividend in line with the inflation-linked rental uplifts received by the Group under the terms of the rent review provisions contained in the Group’s leases. For the year ending 31 December 2020, the target dividend is 6.29 pence per Ordinary Share¹ (the “Target Dividend”). As the Target Dividend follows rents received, any increase will follow after any rent increase.

1 This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indicator of the Company’s expected or actual results.

For key dates see financial calendar.