RL Commercial REIT Inc., the real estate investment trust company of Robinsons Land Corp., said Monday net income in 2021 reached P1.68 billion on stable revenue stream and operational efficiency.
RCR said in a disclosure to the stock exchange revenues in 2021 amounted to P2.09 billion as its 14 assets continued to enjoy higher occupancy.
The 2021 net income and revenue figures are both higher than its REIT plan projection.
The board of RCR earlier approved the declaration of cash dividends for the fourth quarter of 2021 equivalent to P0.092 per outstanding common share. This brings its total declared dividends to P0.154 per share in 2021.
Based on RCR’s initial public offering price, this is equivalent to an annualized yield of 5.73 percent, slightly higher than RCR’s dividend yield projection of 5.57 percent for 2021.
The fourth quarter dividends will be payable on Feb. 28 to stockholders on record as Feb. 18.
