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Duet Real Estate Finance : DREF – update

Duet Real Estate Finance is paying a 2.25p dividend for the final quarter of 2013 (shareholders get paid on 14 March). They are also announcing that their NAV at the end of 2013 was 93.5p. this has been impacted by a provision made against one of their loans (“loan 5” – they don’t tell us who they lend the money to).

They got £10m back from repayments of three mezzanine loans they had made and so they have decided to return this money to shareholders – paying a distribution of 13.35p (via a B share scheme whereby shareholders get B shares which are then immediately redeemed). This distribution will also be made on 14 March 2014.

 

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