The real estate investment trust said it expects to cover the distribution with rents collected for the quarter ending 30 June, such as the March 2020 in advance rents.
The FTSE 250-listed firm continues to review its dividend guidance on a quarterly basis amid the coronavirus crisis.
Most of its tenants continue to pay rent as normal, however as of 31 March £3.3mln were unpaid, representing 6.8% of the group’s £48.3m annual contracted rent roll.
While some rent was deferred, £100,000 was foregone as a concession, while £1.6mln is still being discussed.
In the year to 31 March, net asset value per share rose 8% to 124.3p per share, while the portfolio valuation was 35% higher at £914mln.
Shares advanced 3% to 98.2p on Monday at the opening bell.
Published at Mon, 18 May 2020 08:00:00 +0000-LXi REIT to pay lower dividend for the quarter to 30 June