DoubleDragon Properties’ real estate investment trust saw its net income grow 41.04 percent to P7.17 billion last year, driven by higher rental earnings.
In a regulatory filing, DDMP REIT said lease income rose 13.8 percent to P2.18 billion.
Total assets grew 10.6 percent to ₱50.18 billion while total equity climbed 15.36 percent to nearly P41 billion.
DDMP REIT approved a cash dividend amounting to P495.85 million or P0.027814 per share to all shareholders as of record of May 19, payable on May 31.
“We are pleased that DDMP REIT declared this dividends covering the income generated from the fourth quarter of 2021. The total dividends paid last year including this dividend has amounted to ₱2.21 billion. Another round of dividends for the first quarter of 2022 is expected to also be declared this month,” said DDMP REIT Fund Managers Inc. president Hannah Yulo-Luccini.
DDMP REIT chairman Edgar Injap Sia said “each share of DDMP REIT with a current book value of P2.30 per share is a very solid share to own”, noting that 100 percent of its leasable space sits on prime commercial titled land that the company perpetually owns.
The company expects earnings to grow with the addition of more assets, including DoubleDragon Tower, the seventh completed office tower in DD Meridian Park complex which will be ready for turnover to its tenants by June.
SOURCE:Bilyonaryo
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