DJ SWEF: Special Dividend Declaration
Starwood European Real Estate Finance Ltd (SWEF) SWEF: Special Dividend Declaration 23-March-2023 / 10:33 GMT/BST
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Starwood European Real Estate Finance Limited
Special Dividend Declaration
Additional Special Dividend of 2.0 Pence Per Share for 2022 Earnings Period
Total Distribution of 7.5 Pence Per Share for 2022
Starwood European Real Estate Finance Limited and its subsidiaries (the "Company"), a leading investor originating, executing and managing a diverse portfolio of high-quality real estate debt in the UK and Europe, is pleased to declare a special dividend of 2.0 pence per share in respect of the year ending 31 December 2022.
The Board has decided to declare this special dividend in view of the Company's strong portfolio performance and high cash generation leading to earnings that exceeded the Company's dividend target for the year of 5.5 pence per share. As such the Company now intends for the distribution to shareholders for the 2022 earnings period to total 7.5 pence per share in total (of which 5.5 pence per share has already been paid).
The special dividend of 2.0 pence per share is payable on 21 April 2023 to ordinary shareholders on the register at 31 March 2023.
The Board reiterates that the Company's current dividend target for 2023 remains 5.5 pence per share (this is a target only and does not constitute a profit forecast), and due to the Company's strong performance, the Board already anticipates that the dividend for 2023 will be fully covered by income.
John Whittle, Chairman of the Company said:
"We are pleased to announce today's special dividend which is a clear testament to the success of the Company's portfolio in generating high levels of income whilst preserving capital.
Furthermore, the current market conditions continue to represent a compelling environment for the portfolio to the extent that we are comfortable to declare that the 5.5 pence per share target distribution for 2023 is anticipated to be fully covered by portfolio income."
For further information, please contact:
Apex Fund and Corporate Services (Guernsey) Limited as Company Secretary +44 203 5303 630
Duke Le Prevost
Starwood Capital +44 (0) 20 7016 3655
Duncan MacPherson
Jefferies International Limited +44 (0) 20 7029 8000
Gaudi Le Roux
Stuart Klein
Harry Randall
Buchanan +44 (0) 20 7466 5000
Helen Tarbet +44 (0) 07788 528143
Henry Wilson
Hannah Ratcliff
Notes:
Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to conduct an orderly realisation of the assets of the Company. www.starwoodeuropeanfinance.com.
The Company is the largest London-listed vehicle to provide investors with pure play exposure to real estate lending.
The Company's assets are managed by Starwood European Finance Partners Limited, an indirect wholly owned subsidiary of the Starwood Capital Group.
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ISIN: GG00B79WCXXX Category Code: DIV TIDM: SWEF LEI Code: 5493004YMVUQ9Z7JGZ50 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 232157 EQS News ID: 1589415 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
March 23, 2023 06:33 ET (10:33 GMT)
