The company’s earnings before interest, taxes, depreciation, and amortization rose by 14 percent, and net income grew by 12 percent, strengthening its position as the Philippines’ largest renewable energy real estate investment trust.
“CREIT has sustained the delivery of attractive dividends each quarter, driven by growing lease revenues and strategic asset acquisitions aligned with Citicore Renewables’ project pipeline,” Oliver Y. Tan, president and CEO, said in a statement.
“This approach underscores the resilience of our REIT investment strategy, enabling the company to continually acquire value-accretive assets and closely align CREIT’s growth with that of its sponsor, Citicore Renewable Energy Corp.,” he added.
Last Aug. 9, the company declared dividends of P0.049 per share, yielding 7.1 percent annually, payable on October 4. The company’s green asset portfolio, fully occupied and with long-term leases, supports consistent dividend payouts.
