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Jan. 18, 2021, 2:35 a.m. EST

LXI REIT lifts dividend target on rent collection

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By Joe Hoppe

LXI REIT PLC said Monday that it has collected almost all of the rent for the first quarter of 2021, and raised its dividend target as a result.

The London-listed real-estate investment trust said it will now pay a dividend of 1.46 pence (1.0 cents) a share for the quarter ended March 31, which is expected to be fully covered by net rental collection during the period.

The company said it has collected 96% of the rent due to date for the three months ending March. The figure is calculated on the basis of cash received against contractual rent due and doesn't include rent deferrals, which will increase the total collection to 98%, LXI REIT said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

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