This was unchanged from the same period last year and reflects the trust’s stable lease income and net profit, supported by a slight increase in guaranteed base lease rates.
Based on CREIT’s June 30 closing price of P3.51, the latest dividend translates to an annualized yield of 5.6 percent, payable on Oct. 8 to shareholders of record as of Sept. 12.
Management’s view
“CREIT continues to be a strong leader among Philippine REITs, with our consistent revenues through our long-term lease agreements, backed by guaranteed base lease, built on the fact that we have 100% occupancy at all times,” said CREIT president and CEO Oliver Tan.
“Our performance for the first half of the year translated to stable and consistent dividends which our shareholders enjoy, with our asset acquisition strategy poised to continue to grow CREIT’s portfolio, translating to more attractive dividends,” he added.
Meanwhile, parent firm Citicore Renewable Energy Corp. is on track to energize its first gigawatt of renewable energy capacity this year, paving the way for more yield-accretive asset infusions. CREIT continues to enjoy 100 percent occupancy and leads the industry with a weighted average lease expiry of 19.9 years.
—Edited by Miguel R. Camus
