This brings RCR’s total dividends to P0.154 per share.
Based on RCR’s initial public offering price of P6.45 per share, this is equivalent to an annualized yield of 5.73 percent, higher than the company’s dividend yield projection of 5.57 percent for 2021, according to its REIT plan.
From its successful debut on the Philippine Stock Exchange (PSE), the stock soared to a high of P8.80 per share.
The cash dividends will be payable on February 28 to stockholders on record as of February 18.
RCR’s total dividend pay-out in 2021 is equivalent to 91.56% of its distributable income, higher than the minimum mandated level of 90 percent.
“Our declaration of quarterly dividends is a fulfillment of our commitment to investors based on our REIT plan. This dividend payout, which provides a higher yield than expected, affirms the strength of our portfolio,” said RCR president and CEO Jericho Go.
RCR’s portfolio consists of 14 high quality office buildings registered with the Philippine Economic Zone Authority. These assets are located in 9 key cities and central business districts of Makati, BGC, Ortigas, Quezon City, Mandaluyong, Naga, Tarlac, Cebu, and Davao with a total gross leasable area of 425,315 square meters.
SOURCE: Bilyonaryo
