Filinvest REIT Corp. (FILRT), the flagship commercial real estate investment trust of the Filinvest group, declared its quarterly cash dividends of P0.071 per common share, the same level given in the previous quarter.
The cash dividends will be payable on 30 June 2023 to stockholders on record as of 15 June 2023. This brings year-to-date dividends to ₱0.142 per outstanding common share, which total P4.8 billion.
The latest dividend declaration brings the annualized dividend yield to 6.8% based on the closing share price on 30 May 2023—a rate higher than benchmark reference rate.
“Our goal of delivering stable dividends and providing attractive returns to our investors remains amidst the challenges being faced by the office leasing sector. We believe that the sector is resilient and will continue to thrive. We are focused on expanding FILRT’s portfolio organically and with regular asset infusions, guided by clear strategic imperatives which are to increase occupancy, manage costs and acquire assets,” said FILRT president and chief executive officer Maricel Brion-Lirio.
By law, REITs are required to pay out to shareholders 90 percent or more of their taxable income in the form of dividends.
