Filinvest REIT Corp. (FILRT) declared P391.1 million in quarterly cash dividends after delivering stronger first-half earnings, underscoring how a more diversified property portfolio is helping cushion the lingering softness in the office leasing market.
The board approved a regular cash dividend of P0.06 per common share, equivalent to about P391.1 million based on its 6.52 billion outstanding common shares. The dividend, payable on Sept. 1 to shareholders on record as of Aug. 20, brings FILRT’s total declared dividends for 2026 to P0.18 per share, or approximately P1.17 billion in cumulative cash dividends this year. Based on its Aug. 3 closing share price of P2.92, the total payout translates to an annualized dividend yield of 8.2 percent.
The latest dividend covers income generated from April to June.
The REIT reported first-half revenue of P2.05 billion, up 31 percent from a year earlier, largely driven by the full-period contribution of Festival Main Mall, which was infused into the portfolio in 2025. Net income climbed an even faster 34 percent to P874 million as operating costs rose only 8.0 percent, allowing the company to translate stronger revenues into faster earnings growth while other charges edged lower.
The results highlight how diversification is becoming increasingly important for office-focused REITs navigating a commercial property market still adjusting to hybrid work arrangements and softer office rental rates.
FILRT’s portfolio occupancy averaged 87 percent in the first half, unchanged from the previous quarter but six percentage points higher than a year earlier. The addition of the mall asset helped offset pressure in the office segment, where occupancy stood at 80 percent.
Business process outsourcing firms remained the trust’s anchor tenants, accounting for 85 percent of occupied office space, reinforcing the sector’s continued role in supporting Metro Manila’s office market.
The company also secured 5,964 square meters of new leases at Northgate Cyberzone, while 49 percent of leases expiring this year have already been renewed or covered by signed letters of intent. With a weighted average lease expiry of 13.95 years, FILRT has maintained long-term income visibility as it pursues stable dividends and sustainable shareholder returns.
