UPDC Real Estate Investment Trust (NGX: UPDCREIT) has announced a final dividend of N0.16 for every share for the 2022 full year period ended 31st December, 2022.
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The dividend will be subject to appropriate withholding tax and approval of the shareholders. The qualification date for the dividend has been set as 12th of May, 2023.
On 31st May 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 12th of May,2023 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on the website of the Registrars: www.firstregistrarsnigeria.com, complete and submit
to the Registrar or their respective Banks.
Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
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.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
