UPDC Real Estate Investment Trust (NGX: UPDCREIT) has announced a N0.19 kobo dividend per unit for the period ended June 30, 2023.
The dividend’s qualification date was slated as 31st August 2023.
On 7th August, dividends worth N506.97 million will be paid electronically to unit holders whose names appear on the Register of Members as at 31st of August, 2023 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
The company’s registrar is First Registrars & Investor Services Limited. The e-dividend form is available on the Registrar’s website and on Securities and Exchange Commission (SEC) website.
Unit holders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, complete and submit to the Registrar or their respective Banks.
UPDCREIT has 2,668,269,500 issued units.
The trust reported a net revenue of N945.58 million and a profit after tax of N620.98 million for the period ended June 30, 2023.. The proposed dividend represents 81.64% of its profit for the period.
A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate assets such as shopping malls, offices or hotels, usually with a view to generating income for unit holders of the fund(i.e. investors of the REITs). It is created when a corporation or trust invests in real estate and real estate-related investments, using investors’ money.
Assets of REITs are professionally managed and revenues generated from assets (primarily rental income) are normally distributed at regular intervals to investors. REITs allow investors to access real property assets, and share the benefits and risks of owning a portfolio of properties.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
