The dividend is backed by lease income from its 14 fully occupied renewable energy land assets totaling 7.1 million square meters.
“CREIT’s third year as the leading renewable energy REIT showcases the consistency of our green business model, which translates positively to our shareholders through stable and long-term leases and consistent dividends,” said CREIT president and CEO Oliver Y. Tan.
“Looking ahead, the growth trajectory of CREIT will mirror its sponsor CREC, providing visibility on asset infusion opportunities, further strengthening leasable income from our lessees and ultimately deliver sustainable returns for our investors,” he added.
At the March 31 closing price of P3.16, this equates to a 6.2 percent annualized yield—offering steady returns amid market volatility.
CREIT’s sponsor, Citicore Renewable Energy Corp. (CREC), has over 5 gigawatts in its project pipeline, with the first gigawatt already under construction.
