Filinvest REIT dividend continues to crumble
Filinvest REIT [FILRT 3.23 unch] [link] declared a Q4/23 dividend of P0.067/share, payable on March 26 to shareholders of record as of March 11. The dividend has an annualized yield of 8.3% based on FILRT’s previous closing price. The total amount of the dividend is P328 million, which is nearly 100% of the P329 million in distributable income that FILRT reported for the quarter on its dividend declaration document. Relative to FILRT’s IPO price, the dividend increased FILRT’s total stock and dividend return to a 39.87% loss, up from its pre-dividend total return of a 40.83% loss.
