DDMPR declares falling Q1 div at 116% payout ratio
DDMP [DDMPR 1.17, up 0.9%; 37% avgVol] [link] declared a Q1/24 dividend of P0.023476, payable on July 15 to shareholders of record as of June 19. The dividend has an annualized yield of 8.03% based on the previous closing price. The total amount of the dividend is P419 million, which is 116% of the P362 million in distributable income that DDMPR reported for the quarter. Relative to DDMPR’s IPO price, the dividend increased DDMPR’s total stock and dividend return to -32.29%, up from its pre-dividend total return of -32.33%. DDMP REIT Fund Managers reported that DDMPR’s occupancy as of March 31 was just 76%, with occupancy at its main building (DoubleDragon Plaza) listed at just 70.8%.
