NewRiver REIT cut dividend

DividendMax Ltd.

NewRiver REIT cut dividend

The NewRiver REIT have announce their focus is on managing cash resources very carefully and maintaining liquidity in the business. The Company has £72 million of unrestricted cash reserves and £45 million of undrawn revolving credit facilities, giving available liquidity of £117 million.

NewRiver benefits from a wholly unsecured balance sheet. No bank refinancing events are due prior to August 2023, with the Company's £300 million corporate bond not due for repayment until 2028.

Consistent with NewRiver's focus on cash preservation and liquidity, the Board has decided not to pay a fourth quarter dividend. This preserves £17 million of cash. The Company will update shareholders on dividends at the time of its Full Year Results announcement.

Companies mentioned