MREIT declares first tranche of dividends for 2022

·1 min read

MREIT Inc., the Reit company of the country’s largest office landlord Megaworld, declared dividends of P0.243 per share to its shareholders based on its income for the first quarter of 2022.

The cash dividends will be payable on May 31, 2022 to stockholders on record as of May 10, 2022.

MREIT’s dividend policy contemplates quarterly distribution of dividends.

Reflecting the resiliency of the company’s property portfolio, the latest tranche of dividends is higher than the previous quarter’s P0.2399 per share.“This dividend is just the first tranche of the total amount we aim to distribute for the year 2022.

Not including the impact of the acquisitions scheduled for this year, we are looking at declaring dividends amounting to P1.00 per share, which translates to a 6.2 percent dividend yield versus our IPO price.

At current prices, the yield is at 5.7 percent,” said Kevin Tan, president and CEO.

The company earlier announced an expanded acquisition plan for the year 2022 amounting to P20 billion, with the deed of exchange for the initial acquisition of four prime properties worth P5.3 billion already signed between MREIT and sponsor Megaworld. (PR)

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