AREIT declares largest dividend in company’s history

AREIT [AREIT 33.95, up 0.1%; 116% avgVol] [link] declared a Q1/24 dividend of P0.56/share, payable on June 13 to shareholders of record as of May 28. The dividend has an annualized yield of 6.6%, which is a little higher than AREIT’s pre-dividend annualized yield of 6.48%. The total amount of the dividend is approximately 90.3% of the P1.47 billion in distributable income that AREIT reported for the period. AREIT’s year-to-date stock and dividend return is now up to 3.32%, and its total return since its IPO is now 54.56%.

MB bottom-line: That’s 16 straight quarters of stable or growing dividends from AREIT. Their management team has weathered all of the issues and problems that have plagued the commercial REIT sector since the pandemic in 2020 (COVID, inflation, POGOs, etc), and they’ve managed to actually grow the dividend 10 times while doing it. Sure, their yield is the lowest of the REITs on the PSE, but it’s low for a reason: risk (or the relative lack thereof). 

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