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Manila Bulletin devider Business devider The Stock Market devider Consistent payout: CREIT issues ₱321-million dividend from stable Q1 earnings

Consistent payout: CREIT issues ₱321-million dividend from stable Q1 earnings

Published May 9, 2025 03:13 pm

Citicore Energy REIT Corporation (CREIT) declared cash dividends amounting to ₱320.7 million or ₱0.049 per common share, consistent with the same period last year.

The firm disclosed to the Philippine Stock Exchange that the dividend represents income from its guaranteed lease revenues for the first quarter of 2025, backed by lease contracts from its 14 assets.

CREIT’s land parcels totaling 7.1 million square meters solidify the company's position as the largest landlord for renewable energy real estate properties in the Philippines.

The ₱0.049 per share dividend equates to an annualized yield of 6.2 percent, based on the March 31 closing price of ₱3.16.

“CREIT’s third year as the leading renewable energy REIT showcases the consistency of our green business model, which translates positively to our shareholders through stable and long-term leases and consistent dividends,” said CREIT President and CEO Oliver Y. Tan.

He added that, “Looking ahead, the growth trajectory of CREIT will mirror its sponsor CREC, providing visibility on asset infusion opportunities, further strengthening leasable income from our lessees and ultimately deliver sustainable returns for our investors.”

CREIT’s sponsor, Citicore Renewable Energy Corporation (CREC), has over 5GW of project pipeline in varying stages of development, with the construction of its first gigawatt in full speed.

CREIT’s unique green asset portfolio is backed by 100 percent occupancy and an above industry weighted average lease expiry (WALE) of 20.19 years – allowing the Company to consistently declare above-prescribed dividends since its listing in the Philippine Stock Exchange in February 2022.

Related Tags

Citicore Energy REIT Corporation Oliver Y. Tan Citicore Renewable Energy Corporation
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