ADVERTISEMENT
Manila Bulletin devider Business devider The Stock Market devider MREIT lifts dividends on strong H1 earnings

MREIT lifts dividends on strong H1 earnings

Published Jul 30, 2026 09:56 am
MREIT's 8 Campus office building at McKinley Hill
MREIT's 8 Campus office building at McKinley Hill

MREIT Inc., the real estate investment trust (REIT) of Andrew Tan-led top township developer Megaworld Corp., reported a 34-percent growth in distributable income to ₱2.49 billion in the first half of 2026, driven by its latest asset acquisition, improved portfolio occupancy, and further gains in operating efficiency.

In a disclosure to the Philippine Stock Exchange (PSE) on Thursday, July 30, the firm said its strong performance sustained the higher level of dividends per share during the period.

The distributable income growth outpaced the 26-percent increase in revenues to ₱3.41 billion in the first six months of the year as net operating income margin improved by 121 basis points (bps) to 81 percent, reflecting cost efficiencies and operating leverage across MREIT’s enlarged portfolio.

Notably, the margin improvement was achieved despite inflationary pressures and higher energy-related costs arising from the Middle East crisis.

MREIT’s disciplined cost management and transition to 100-percent renewable electricity (RE) supply across its portfolio helped manage exposure to volatility in electricity generation costs while supporting the company’s broader sustainability objectives.

Portfolio occupancy improved to 90 percent from 89 percent in the same period last year, reflecting the continued attractiveness of MREIT’s office properties within Megaworld’s integrated townships.

MREIT’s occupancy remained well above prevailing occupancy rates in both Metro Manila and provincial office markets reported by property consulting firms.

The firm also declared its second-quarter cash dividend of ₱0.263 per share, representing a five-percent year-on-year increase and sustaining the higher level of dividends established following the completion of its Wave 4 acquisition in the first quarter of 2026.

The dividend is payable on Aug. 28 to stockholders on record as of Aug. 14, 2026. The latest declaration brings MREIT’s total dividends for the first half of 2026 to ₱0.5260 per share, equivalent to an annualized dividend yield of 7.6 percent based on MREIT’s last closing price.

“As promised, we now structure every asset infusion we pursue to deliver material dividend-per-share accretion. The dividends declared in both the first and second quarters of 2026 reflect that commitment and demonstrate how Wave 4 is translating portfolio growth into tangible per-share returns for our shareholders,” said MREIT President and Chief Executive Officer (CEO) Jose Arnulfo C. Batac.

Building on Wave 4, MREIT is advancing Wave 5 toward completion, its largest asset infusion to date. The previously announced ₱27-billion transaction will bring MREIT’s portfolio to more than 950,000 square meters (sqm), subject to regulatory approval.

Wave 5 will be implemented through a property-for-share swap at a subscription price of ₱16.50 per share, representing an 18.6-percent premium to MREIT’s 30-day volume-weighted average price (VWAP).

The transaction structure reflects MREIT’s disciplined approach to acquisitions, ensuring that portfolio expansion is pursued not merely for scale but to enhance shareholder value through dividend-per-share accretion.

Related Tags

MREIT Inc. Jose Arnulfo Batac
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ static_articles_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.