MREIT Inc., the real estate investment trust company of Megaworld Corp., declared dividends of P0.2428 per share to shareholders based on its distributable income in the fourth quarter of 2022.
This brought MREIT’s total dividends in 2022 to P0.9770 per share, equivalent to dividend yield of 7.1 percent as of the company’s closing share price of P13.70 per share on Jan. 6.
The cash dividends will be payable on Feb. 15 to all stockholders on record as of Jan.24.
MREIT said it would continue to declare quarterly dividends to shareholders. “We remain committed on delivering competitive returns to our shareholders through a combination of organic growth and acquisitions,” MREIT president and chief executive Kevin Tan said in a statement to the stock exchange.
The dividends, however, do not include additional income arising from the announced property-for-share swap transaction. MREIT announced in April 2022 the acquisition of an additional four prime properties worth P5.3 billion. Jenniffer B. Austria
