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Manila Bulletin devider Business devider The Stock Market devider CREIT delivers highest annual dividends since IPO, surpassing expectations

CREIT delivers highest annual dividends since IPO, surpassing expectations

Published Mar 25, 2025 08:24 am
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CREIT President and CEO Oliver Y. Tan

Citicore Energy REIT Corporation (CREIT) declared dividends amounting to ₱360 million for the fourth quarter of 2024, bringing its total dividends last year to ₱1.32 billion.

In a disclosure to the Philippine Stock Exchange, the firm said its latest dividend is equivalent to ₱0.055 per share – higher than the ₱0.054 per share dividend declared in the same period last year. 

This consists of regular dividends coming from CREIT’s guaranteed base lease revenues from the fourth quarter of 2024 and special dividends from variable lease revenues for the year.
CREIT’s variable lease revenues amounted to ₱50 million for the year, representing a 48 percent increase in the excess revenues earned by its lessees over base revenues. 

This was driven by the combined overperformance of actual versus base generation and higher contract renewal rates. 

For the year 2024, CREIT has declared total dividends amounting to ₱1.32 billion or ₱0.202 per share, which is the Company’s largest cash dividend declaration in a single year since listing in the PSE in 2022 and equates to an annualized yield of 6.43 percent, based on March 24 closing price of ₱3.14.
“On its third year of operations, CREIT is proud to declare its highest quarterly dividend to-date. We remain committed to provide investors with a sustainable and attractive dividend-paying investment as we continue to grow the Company’s green asset portfolio, mirroring the the growth of its sponsor, Citicore Renewables, as it continues to embark on its 5GW in a 5-year journey.” said CREIT President and CEO Oliver Y. Tan. 

Dividends for the fourth quarter of 2024, amounting to ₱0.055/share declared on March 25, 2025, will be payable on May 21, 2025 to shareholders on record as of April 24, 2025.

CREIT’s sponsor, CREC, has a goal of 5 gigawatts (GW) in 5 years - with the 1st GW to be energized in 2025. CREIT’s unique green asset portfolio, with total landholdings of 7.1 million square meters and backed by 100% occupancy with a weighted average lease expiry of 20.69 years, has allowed the Company to consistently declare above-prescribed dividends since its listing in the stock market in February 2022.

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Citicore Energy REIT Corp. Oliver Tan
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