With effect from 1 August 2019 Palace Capital converted to a Real Estate Investment Trust (REIT). As a REIT the Company must follow certain rules relating to the distributions it makes to shareholders, and how those distributions are taxed. 90% of the tax-exempt profit from Palace Capital’s property rental business has to be distributed to shareholders. This is known as a Property Income Distribution, or ‘PID’. Palace Capital can also distribute taxed income from its other activities, known as a Non-Property Income Distribution, or ‘non-PID’.
Dividends are paid on a quarterly basis in April, July, October and December. Dividends may be paid as Property Income Distribution (‘PID’), Non-Property Income Distribution (‘non-PID’) or a mixture of the two.
The Company expects to pay its first PID in December in relation to the quarter ending 30 September 2019. All dividends paid in respect of periods ending before 1 August 2019 will be ordinary dividends not subject to the REIT regime.
Supporting Local Communities
Here at Palace Capital, we’re passionate about supporting local communties in areas where we have investment interests. Not only do our property investments generate employment opportunities but we also like to provide further support to charities such as Variety, The Children’s Charity.
Palace Capital In The News
At our core, Palace Capital are regional experts. As a result, we’re often asked to comment on all aspects of the industry by the leading property and investment publications.