AREIT Inc. (AREIT), the pioneering real estate investment trust (REIT) sponsored by Ayala Land Inc., marked its first anniversary since it debuted on the Philippine Stock Exchange with another cash dividend declaration.
Delivering on its commitment to its shareholders, AREIT has declared dividends on a quarterly basis since its listing.
For 2020, it declared a total of P1.32 per share, slightly higher than its REIT plan projection. Last May, AREIT declared dividends of P0.42 per share for the first quarter of 2021.
Yesterday, AREIT’s Board of Directors approved the declaration of dividends amounting to P0.44 per share for the second quarter of 2021, bringing the total dividends to P0.86 per share year-to-date.
The cash dividends will be payable on September 10, 2021 to stockholders of common shares as of August 26, 2021.
Factoring the share price appreciation and the dividends paid, AREIT has provided investors with a total return of 12.6 percent as of end 2020, and 41.3 percent year-to-date.
“We are grateful to our regulators for paving the way for REITs in the Philippines. It has been a meaningful journey for AREIT as we have taken bold steps to introduce a new equity instrument into the market and educate local investors,” said AREIT President and CEO Carol T. Mills.
She added that, “We are glad to have demonstrated through AREIT the benefits of investing in REITs and its contribution to fueling real estate development.” Ayala Land, Inc.’s (ALI’s) foray into REITs last year reflects its confidence in the local economy despite the ongoing pandemic.
AREIT is the result of ALI’s long-standing desire to create a new equity instrument for local investors to invest in high-value commercial real estate while enabling the company to reinvest capital in the country.